Spread of the Coronavirus Slows, RBNZ Surprises
Updated 10:04AM 12/02/2020
NZD and NOK are the top G10 FX gainers today, up 1.02% and 0.4% vs the dollar while JPY and USD are the top losers.
The dollar traded near a four-month high as the spread of the coronavirus slowed. China's Yuan moved up as reports emerged that the growth of coronavirus infections is at its slowest in over two weeks. Elsewhere, kiwi to dollar rate moved higher after RBNZ disappointed bears by dropping a bias towards reducing interest rates.
In the Asian equities space, the Nikkei 225 closed 0.74% higher at 23,861.21, Hang Seng closed 0.87% at 27823.66 and Kospi ended 0.69% at 2238.38. The European equities were trading firm with the FTSE up +0.24% at 7517.35, DAX up +0.56% at 13703.64, and CAC up +0.29% at 6072.41. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.6247% and the Bund 10-year yield trading at -0.365%. In the energy space, the Brent (front month) is trading up (2.2%) for the day at $55.2.
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