FxPro Daily Insight for January 23

Stock markets remain under pressure due to fears of the Chinese virus outbreak. Futures on Dow Jones have lost 0.6% this week, while Chinese Hang Seng declined 4.2%. Luxury goods manufacturers (Burberry, LVMH) and airlines companies (Air China, Japan Airlines) received the most blow due to demand concerns.

CHF, JPY add to the dollar on safe-heavens demand. AUD moves against the market after the second consecutive strong employment report, that reduced expectations of new rate cuts. CAD lost 0.8% after BoC comments opened the door to imminent rate cuts.

Important events (GMT):

12:45 EA !!! ECB Interest Rate Decision 13:30 EA !! ECB Press Conference 21:45 NZ !!! Consumer Price Index 23:30 Jp !! Consumer Price Index