S&P 500 Sent Worrying Signal by Bond Market, USD/KRW Rises

MARKET DEVELOPMENT SP 500, USD/KRW, EUR/USD Analysis

Equity markets are a hold softer as investors continued to tatter over a widespread of a coronavirus. South Korea saw a series cases doubled overnight, that has coincided with South Korean 10yr yields plummeting by 21bps (most given 2012). As a reminder, with a BoK rate preference scheduled for Feb 27th, eyes will be on intensity speak alluding to a pre-emptive, as was a box in a 2015 MERS outbreak.

Samp;P 500 Sent Worrying Signal by Bond Market, USD/KRW Rises - US Market Open

EUR: Modest gains for a Euro that hovers around a 1.0800 hoop following a slew of improved than approaching from a Eurozone. Although, while a title shows signs of life for a Eurozone production sector, a finer sum advise that a Eurozone is not out of a woods yet. IHS Markit remarkable that a opinion stays rarely uncertain, particularly in honour to a intensity for serve disruptions to supply chains, that does not bode good for subsequent month’s release.

Bond Market Signals Cast Doubt Over Further Rise in US Equities

Samp;P 500 Sent Worrying Signal by Bond Market, USD/KRW Rises - US Market Open

Source: DailyFX, Refinitiv

Samp;P 500 Sent Worrying Signal by Bond Market, USD/KRW Rises - US Market Open

Economic Calendar (21/02/20)

Samp;P 500 Sent Worrying Signal by Bond Market, USD/KRW Rises - US Market Open

Source: DailyFX,

WHAT’S DRIVING MARKETS TODAY

  1. British Pound (GBP) Latest: GBP/USD Battling a Rampant US Dollar” by Nick Cawley, Market Analyst
  2. USD/MXN – US Dollar Shreds Mexican Peso, Major Reversal Coming?” by Paul Robinson, Currency Strategist
  3. Australian Dollar Forecast: Key AUD/USD Levels to Watch as Breakdown Unfolds” by Justin McQueen, Market Analyst

— Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX