Bank of Korea left its base rate at 1.25% (25 bp cut was the expected) ForexLive
AUD had a bit a of a wiggle after the private capital expenditure data: Taking some of the edge off the actual capital tanking was a boost to planned capex (see the post for details).
Private new capital expenditure in the fourth quarter of 2019, a big, big miss More: - Estimate 5 for '19-20: AUD 120bn (from 117 for the previous estimate, 4) Another drag on Q4 GDP (data due Wednesday 4 March)
The press briefing is about the tragic events unfolding on the coronavirus outbreak but Trump gets in his dig at the Fed. Trump wants the US stock market propped up to help his election chances, so he wants the Fed to lower rates.
Citi with similar thoughts to Goldman Sachs (ie. ) Goldman Sachs is looking for more downside for US stocks Citi note: - reluctant to buy the dip in risk assets "just yet"
A few snippets, this from GS Without more clarity on a stabilization of global growth, it seems too early to add risk tactically the risk of a more prolonged drawdown remains
President of the United States Trump press conference - Says virus will probably spread in the US There is no probably about it. I am surprised he is not informed on this.
JPM are not listening to the platitudes emanating from the Trump press conference. - damage to China is severe - largely due to the significant degree to which authorities have acted to contain the outbreak ---
This is significant because its the first U.S coronavirus case of unknown origin confirmed S&P500 futures lower US President Trump is giving a press conference, its just empty platitudes. He has nothing and this latest from Northern California is spooking US equities.
A rare briefing for the press from US President Trump So far is platitudes and such. - risk to the American people from the virus is very low - we are ready to act and do whatever we have to Forex unmoved. S&P500 futures trading a little lower on Globex (overnight trade)
