Euro Falls As Coronavirus Fears Linger
10 Februar 2020 - 7:07AM
RTTF2
The euro declined against its major opponents in the early
European session on Monday, as concerns over the impact of the
outbreak of coronavirus dampened risk sentiment.
The head of the World Health Organization said the thousands of
coronavirus cases in the Chinese city of Wuhan, the center of the
epidemic, is likely "just the tip of the iceberg."
"There have been some concerning instances of onward 2019nCoV
spread from people with no travel history to China. The detection
of a small number of cases may indicate more widespread
transmission in other countries," tweeted Ghebreyesus,
Director-General of the WHO.
"In an evolving public health emergency, all countries must step
up efforts to prepare for 2019nCoV's possible arrival and do their
utmost to contain it should it arrive. This means lab capacity for
rapid diagnosis, contact tracing and other tools in the public
health arsenal," he said.
The death toll totaled 908 and the number of confirmed cases has
risen over 40,000, according to the World Health Organization.
Survey from the behavioral research institute Sentix showed that
Eurozone investor sentiment eroded in February, after rising in the
previous three months, as investor grew concerned about the
economic outlook amid the uncertainty created by the coronavirus
outbreak in China.
The investor confidence index dropped to 5.2 from 7.6 in
December.
The euro edged down to 0.8476 against the pound, from a 6-day
high of 0.8504 seen at 2:45 am ET. The euro is seen finding support
around the 0.83 region.
The euro pulled back to 1.0945 against the greenback, from a
high of 1.0958 set at 12:00 am ET. The next possible support for
the euro is seen around the 1.08 level.
The euro eased to 1.0696 against the franc, down from a 4-day
high of 1.0714 hit at 9:30 pm ET. On the downside, 1.06 is possibly
seen as the next support level for the euro.
The euro retreated to 120.13 versus the yen, not far from a
1-week low of 119.97 recorded in the previous session. If the euro
extends decline, 118.00 is possibly seen as its next support
level.
Data from the Ministry of Finance showed that Japan posted a
current account surplus of 524.0 billion yen in December - up 12.8
percent on year.
That exceeded expectations for a surplus of 464.7 billion yen
following the 1,436.8 billion yen surplus in November.
The euro was trading at 1.7078 versus the kiwi, down from a
6-day high of 1.7125 set at 7:15 pm ET. Further downtrend may take
the currency to a support around the 1.68 region.
The euro fell to near a 2-week low of 1.4548 versus the loonie
and held steady thereafter. The pair had finished Friday's deals at
1.4563.
The single currency held steady against the aussie, after
falling as low as 1.6331 at 1:15 am ET. At Friday's close, the pair
was worth 1.6398.
Looking ahead, Canada housing starts for January are set for
release at 8:15 am ET.
Fifteen minutes later, Canada building permits for December will
be released.
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