{"id":163932,"date":"2020-01-27T10:15:14","date_gmt":"2020-01-27T15:15:14","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=163932"},"modified":"2020-01-27T10:10:28","modified_gmt":"2020-01-27T15:10:28","slug":"risk-sentiment-falls-on-the-impact-of-coronavirus","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/01\/risk-sentiment-falls-on-the-impact-of-coronavirus\/","title":{"rendered":"Risk Sentiment Falls On The Impact Of Coronavirus"},"content":{"rendered":"
January 27, 2020<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

Equity markets were trading in the red into Friday\u2019s close. The declines came partly as investor concerns rise on the impact of the Coronavirus breakout. Yields on the 10-year treasuries also increased, underlining investor concerns.<\/p>\n

Euro Maintains Declines, Brushing off PMI Data<\/strong><\/h2>\n

The euro currency continues it declines, set off by the ECB meeting on Thursday last week. By Friday\u2019s close, the Euro was down by about 0.25%. Flash PMI\u2019s for January from IHS Markit were better than forecasts. Private business activity was picking up momentum during the month. But the euro failed to capitalize on the data.<\/p>\n

EURUSD is on Track for a Decline to 1.1000<\/strong><\/h3>\n

At the current pace, the common currency is on track for a test of support near the 1.1000 level of support. Price briefly rebounded but the gains were quickly rejected above 1.1050. A test of the support area near 1.1000 will signal a possible rebound given its psychological importance.<\/p>\n

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UK Manufacturing and Services Activity Rebound in January<\/strong><\/h2>\n

Flash estimates from Markit in regards to the manufacturing and services activity saw a modest rebound. Manufacturing activity rose to 49.8 while services PMI rose to 52.9. On both counts, the data beat the forecasts. But the sterling ignored the report and reversed gains.<\/p>\n

GBPUSD Pares Gains, Moving Back into the Range<\/strong><\/h3>\n

The currency pair gave up the gains after initially breaking out above 1.3100 level. With price settling back below this level, we anticipate a sideways range. The currency pair could remain range bound within 1.3100 and 1.2960 once again. But the downside remains limited for the moment.<\/p>

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Gold Posts Modest Gains as Equities Rally Pauses<\/strong><\/h2>\n

The precious metal was once again attempting to post some gains with some degree of success. Gold prices\u00a0rose by over 0.50% percent into Friday\u2019s close.<\/a>\u00a0The gains came as risk sentiment is fading. Equity markets remain rather flat right after charting into new highs.<\/p>\n

XAUUSD Could Rise Further if Support Holds<\/strong><\/h3>\n

Gold prices broke past the temporary resistance area of 1562. This triggers the bullish ascending triangle pattern. If prices retreat, then the 1562 level could act as a support. This will open the upside to a minimum target of 1600 once again. But failure to break past previous highs could keep gold trading flat near the top.<\/p>\n

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By <\/strong>Orbex<\/strong><\/a><\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex Equity markets were trading in the red into Friday\u2019s close. The declines came partly as investor concerns rise on the impact of the Coronavirus breakout. Yields on the 10-year treasuries also increased, underlining investor concerns. Euro Maintains Declines, Brushing off PMI Data The euro currency continues it declines, set off by the ECB […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-163932","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/163932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=163932"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/163932\/revisions"}],"predecessor-version":[{"id":163940,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/163932\/revisions\/163940"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=163932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=163932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=163932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}