Emerging market FX set for more pain if coronavirus worsens: Reuters poll

and Swiss franc EURCHF=firm on fears the flu-like virus that has claimed over 400 lives in China could worsen.

“While risk-off moves could trigger additional pressure on the yuan in the short term, a broader drag of the coronavirus on the currency will depend on its lagged economic impact, which is unlikely to be fully unfolded in the following weeks”. South Africa’s currency has bounced back a bit since but is likely to relapse if risks worsen, with plenty of domestic economic challenges building already.

Emerging market peer Argentina is already asking its debt-holders to accept a late but bigger repayment to avoid falling into default.In particular, the Chinese yuan may sink as much as 3% in February if the health crisis aggravates, potentially disrupting international markets, according to replies to a separate question in the poll.

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Europe markets set for higher open amid earnings; coronavirus fears abateEuropean markets are expected to open higher on Tuesday as sentiment improves and investors brush aside economic fears over the coronavirus outbreak. Only for stock market not for people!!
Source: CNBC - 🏆 12. / 72 Read more »

U.S. Stocks Rebound, Despite China’s $400 Billion Coronavirus Market Sell-OffI am a New York—based reporter for Forbes, covering breaking news—with a focus on financial topics. Previously, I've reported at Money Magazine, The Villager NYC, and The East Hampton Star. I graduated from the University of St Andrews in 2018, majoring in International Relations and Modern History. Follow me on Twitter skleb1234 or email me at sklebnikovforbes.com skleb1234 Risky days ahead!
Source: Forbes - 🏆 394. / 53 Read more »