Virus control hope helps Asian markets

Analisi Giornaliera - 12/02/2020

Clues about a possible Coronavirus control supports Asian currencies

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Asian currencies looked stronger today, supported by the confidence that the spread of coronavirus had decreased, as the kiwi jumped following the dovish mood of the central bank.

In mainland China, new verified infections had the weakest daily increase since 30 January, but total infected are now more than 2,000. The news had currency markets maintaining their balance following a sharp selloff affecting China-exposed assets. The greenback, which had absorbed the shocks regarding the managed to return some profits.

Oil looks promising


On Wednesday Oil rose while China announced its weakest daily number of new coronavirus incidents since late last month. That fact increased investor expectations that fuel requirements in China may begin to increase and start recovering from the epidemic. US West Texas Intermediate (WTI) climbed 81 cents, to $50.64 a barrel. Brent crude rose 98 cents to $54.98 per barrel.

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Samsung has a new folding phone


On Tuesday Samsung published that the $1,380 Galaxy Z Flip is ready for release during a press conference in San Francisco. This is Samsung's second attempt to release a phone with a bendy screen, after the Galaxy Fold that launched in 2019. The Galaxy Fold cracked when it was first presented to commentators, so the company went back to the drawing board and improved it before it was delivered to the public. It launches on February 14 and is expected to draw a lot of attention.

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Gold remained in a range


The popular safe haven Gold changed little, as stocks surged following the number of new coronavirus cases dropped and while skepticism over the economic influence of the outbreak underpinned the famous metal. Spot gold remained even at $1,567.80 per ounce while U.S. gold futures went 0.1% higher to $1,571.19.

 

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