Archives of “January 27, 2020” day

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Treasury bond futures break the November high but reluctant to push further

  
  Analysis

It’s early

US 10-year note futures are up 11 ticks but to 130-20 but have backed off from the earlier highs after breaking the November 1 high at the open.
In the cash market, trading is light but the 10-year note is indicated down 4.3 bps to 1.64%.
It’s an ominous break if it can hold through the day because there isn’t much support/resistance and it’s tough to see coronavirus fear fading any time soon.
TY futures

China says 30,453 people are under medical observation and at risk of coronavirus

  
  Analysis
  Tags

That’s the number of close contacts

That's the number of close contacts
Today’s data:
  • 769 new confirmed cases (total 2,744)
  • 137 severe cases
  • 24 new deaths
  • 461 cases of severe cases
  • 30 provinces affected
  • 5794 suspected cases
  • 32,799 close contacts have been traced
  • 583 people have been released from medical observation
  • 30,453 people are currently receiving medical observation
  • Source
In the provincial breakdown, some of the hardest hit provinces were:
  • Henan – 128, particularly in Zhengzhou
  • Hunan – 26
  • Zhejiang – 24
This is a worrisome case from South Korea:
The Yonhap News Agency reported on the 26th that there was a third case of  coronavirus in South Korea. The patient previously stayed in Wuhan, China. He returned to Korea from Wuhan on the 20th. He returned without any abnormal symptoms. He had symptoms of warmth and cold from the 22nd. He had intermittent cough and sputum on the 25th.

The Korean health department said that the patient had been active in the community without knowing that he was infected from 20th to 25th. He may become a spreader of the new coronavirus and is closely monitoring the situation of the people in his community.

Markets wake up: Oil drops, gold jumps, yen bid

  
Analysis, Gold / Silver
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Risk aversion kicks in

Risk aversion kicks in
Gold is up $14 in the first minutes of trading while WTI crude has fallen 2.5% to $52.85. S&P 500 futures are down 1%. The US 10-year note future contract is up 11 ticks.
The yen is bid but not as much as I anticipated. NZD/JPY is down 50 pips to 71.69 and is the biggest percentage mover. USD/JPY is down 45 pips to 108.83.
Get ready for a wild week.

US confirms fifth case of coronavirus

  
  Analysis
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A case in Arizona

Phoenix officials say a resident was diagnosed with coronavirus on Sunday.
Officials said the patient recently returned from Wuhan, China and is a member of the Arizona State University community who does not live in university housing.
They say he/she is severely ill and in isolation. They’re working with the patient to identify anyone who may have been in close contact or been exposed.
“While the immediate risk of the 2019 Novel Coronavirus to the general public is believed to be low at this time, ADHS and our county public health partners will continue to actively monitor for the disease,” said Dr. Cara Christ, ADHS director. “There are simple daily precautions that everyone should always take to prevent the spread of diseases.”
I’m starting to feel like this virus is targeting ForexLive. In the past 48 hours there have been cases in Toronto, Melbourne, Kuala Lumpur and now Pheonix. With that, the four of us will continue to never leave our homes and desks.

US embassy in Baghdad hit with a rocket

  
Analysis, Politics

Rockets hit Green Zone in Baghdad

Five Katyusha rockets hit the Green Zone in Haghdad on Sunday, according to Iraqi security forces.
There were no casualties but one hit the US Embassy, according to al-Sumaria. A separate report says the dining facility was hit.
The attack was first reported 4 hours ago and there is said to be heavy helicopter traffic there now.
In May 2019 a rocket was fired inside the Green Zone and on January 4 one rocket landed in the Green Zone.
The Iraqi PM said the attack will have serious consequences and condemned it.
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