Sunday, 26 January 2020

Coronavirus, FOMC, BOE, and Brexit Will Lead Week Ahead

By Forex.com Team



forex market



Wow! I’m sure not many people expected a risk off move this week due to the outbreak of a virus!  With 3 Central Bank meetings (BOC turned dovish) and a return to watching the economic data after US trade deals were signed (USMCA to be signed next week), the most dominant event this week which affected the markets was the Coronavirus.  So far, the virus has killed 26 people and infected more than 900.  China has quarantined cities and canceled many public events during its New Years Holiday, which is expected to take a hit on Q1 GDP.  There have been 2 confirmed cases so far in the US.

On the opening next week, the focus will likely continue to be the Coronavirus.  If there are more confirmed cases over the weekend, especially outside of China, we could see some markets gapping on the open. 

There are two major Central Bank meetings next week, which include the US Federal Reserve and the Bank of England.

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