There are signs the escalating coronavirus outbreak has begun to weigh on business sentiment in the United States, a report by the Federal Reserve released on Wednesday showed, even as the US economy expanded at a modest to moderate pace over the past several weeks. Highlights of the Beige Book There were indications virus impacted travel and tourism. Virus delays some supply chains, producers fear disruption. Most districts saw modest growth in selling prices. Hiring was constrained by a tight labor market. US consumer spending generally picked up but it was uneven across nation. Full report What is The Beige Book? The Beige Book is a Federal Reserve System publication about current economic conditions across the 12 Federal Reserve Districts. It characterizes regional economic conditions and prospects based on a variety of mostly qualitative information, gathered directly from District sources. The qualitative nature of the Beige Book creates an opportunity to characterize dynamics and identify emerging trends in the economy that may not be readily apparent in the available economic data. Because this information is collected from a wide range of business and community contacts through a variety of formal and informal methods, the Beige Book. FX implications Considering the market is already positioned, and how the data from this report was collected prior to the real fears of an actual global pandemic, markets have ignored this event. The Fed slashed interest rates by a half percentage point on Tuesday in an emergency move to mitigate the possible economic effects of the virus on the world’s largest economy. The dollar is under pressure considering the door was left open to further measures should they be required. The USD/JPY and EUR/USD are in focus from a technical and fundamental standpoint as follows: EUR/USD Price Analysis: Bears lurking, lower highs, lower lows, 1.0997 eyed USD/JPY stabilizing with the case made for a POC and 61.8% Fibo target between 110.08/17 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EU Hogan’s Chief of Staff: UK trade talks ‘off to good start’ FX Street 3 years There are signs the escalating coronavirus outbreak has begun to weigh on business sentiment in the United States, a report by the Federal Reserve released on Wednesday showed, even as the US economy expanded at a modest to moderate pace over the past several weeks. Highlights of the Beige Book There were indications virus impacted travel and tourism. Virus delays some supply chains, producers fear disruption. Most districts saw modest growth in selling prices. Hiring was constrained by a tight labor market. US consumer spending generally picked up but it was uneven across nation. Full report What is The Beige Book?… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.