Jan 21, 2020
Forex Today: Risk-off led the way
Here is what you need to know on Tuesday, January 22nd:
- A virus outbreak in China that can be spread between humans spurred risk aversion. China canceled the Lunar New Year´s celebrations to prevent a worldwide outbreak of the coronavirus, although there are reports that the virus has already crossed borders.
- The EUR/USD pair flirted with 1.1120 on an upbeat ZEW Survey, but closed the day unchanged just below 1.1100, as the greenback recovered with Wall Street’s late slump.
- GBP/USD peaked at 1.3081 after a generally better-than-anticipated UK employment report, ending the day around 1.3050 amid the dollar’s recovery in the final trading session of the day.
- JPY appreciated amid risk-aversion and a mildly optimistic Kuroda.
- The Australian dollar remains among the weakest currencies across the board, weighed by the negative sentiment.
- European and American indexes closed in the red. Wall Street plummeted on rumors the coronavirus reached the US.
- Commodities seesawed between gains and losses but finished the day with modest losses and without relevant changes.
- Crypto Today: Bitcoin breaking out of big bearish pennant