The Coronavirus remains the main topic this week, as reports of the virus spreading have traders moving towards safe-haven assets. Italy, which confirmed 3 cases on Friday, has now confirmed more than 130 cases as of Sunday.
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The Fed released minutes from their January 28-29 FOMC meeting yesterday afternoon and it was stated that the current monetary policy was appropriate.
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This morning traders will focus on US economic releases. Retail sales for January are expected to rise 0.3%, the same as the December number.
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US Non-Farm Payroll rose 225,000 jobs in January much better than the expected 160,000 and the unemployment rate moved up a bit to 3.6%.
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The USD is trading a bit lower this morning as the market digests a poor NFP number, following better numbers earlier in the week.
Daily Brief
The USD is trading in quiet ranges this morning as traders await the release of Retail Sales m-o-m December, which are expected to rise 0.3%, after previously rising 0.2%.
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The USD is mixed this morning as the Coronavirus continues to dominate the news. The Chinese government has closed down the city of Wuhan, where the virus originated.
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The USD is lower this morning against the JPY, but relatively unchanged against the GBP and EUR, as traders are concerned about the Coronavirus spreading in China.
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The US removed China from the list of currency manipulating countries, and the USD gained against the JPY after the move.
Daily Brief
Global markets are on edge as we begin trading this morning after Iran launched a missile attack on US forces stationed in Iraq.
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