Once again, the concerns over the coronavirus outbreak knocked-off the risk sentiment in Asia this Thursday, courtesy US President Trump’s sudden announcement of a temporary travel ban from Europe, in an effort to contain the spread. Further, investors were also disappointed by a lack of economic stimulus package unveiled by Trump to fight the virus impact on the economy. Amid double blow, the demand for the safe-havens- the yen, CHF and the US bonds strengthened at the expense of the risk assets such as the Asian equities, US stocks futures and oil prices. Within the G10 currency market, the anti-risk yen took a flight, as risk-off, with USD/JPY dumped to 103.10 lows before having recovered half the sell-off. Both Antipodeans were pressured by the risk-off flows and sell-off in oil and gold prices. AUD/USD dropped to test the 0.6450 level while the kiwi hovered around 0.6250. USD/CAD topped 1.38 while the USD/CHF pair was dragged lower towards 0.9300. Meanwhile, EUR/USD briefly regained the 1.13 handle, having hit a low of 1.1251, as the cable managed to hold above 1.2800. Main topics in Asia Coronavirus update: Washington State confirm 366 cases, Italy publishes guidelines for doctors US Pres. Trump: There is nothing more important to me than the life & safety of the United States CME will close its Chicago trading floor at end-Friday Australian PM Morrison: Fiscal stimulus measures Worth A$17.7Bln Trump: We will defeat this virus, US will suspend all travel from Europe to US for next 30 days UAE plans to boost oil output amid price war China’s NHC reports 15 new confirmed coronavirus cases, US Pres. Trump cancels events US Pres. Trump: Very important for all countries & businesses to know that trade will in no way be affected by EU travel ban South Korea confirms 114 new coronavirus cases, Guyana and Cuba report first case Russia’s Sorokin: Deeper oil output cuts don’t make sense Market now expects the Fed to cut rates by 100 basis points next week BOJ’s Kuroda: Discussed financial market moves with PM Abe Australia actively considering an all of Europe travel ban – Daily Telegraph Key focus ahead The main event risk for today remains the European Central Bank (ECB) monetary policy decision due at 1245 GMT while President Lagarde’s press conference at 1330 GMT will be closely eyed for fresh hints on the economic outlook, in light of the virus outbreak. Markets are widely expecting the central bank to announce additional monetary stimulus to tackle the coronavirus. Lagarde could also likely push the governments to step up fiscal measures to offer economic relief. On the data front, the Eurozone Industrial Production, US Jobless Claims and PPI data are lined up for release but will likely play second fiddle to the broader market sentiment, which is mainly dominated by the coronavirus-related developments globally. EUR/USD: Risk-off fuels recovery, ECB eyed EUR/USD is back above 1.13 amid risk-off mood in the global markets. Trump’s coronavirus speech fell short of expectations and strengthened the demand for safe havens. With rates already below zero, the ECB has little room to deliver aggressive stimulus. GBP/USD bears catch a breath ahead of UK PM Johnson’s emergency meeting GBP/USD trades with modest losses ahead of the London open. Doubts upon the further EU-UK talks remain elevated amid coronavirus fears. Cable traders await further measures by the Tory government after Wednesday’s heavy stimulus. ECB Preview: Three losing scenarios for Lagarde and EUR/USD as EU leaders fail to counter coronavirus The European Central Bank has limited scope to act in the face of the coronavirus crisis. The euro is set to fall if the ECB adds monetary stimulus. A downfall is likely also if Lagarde passes the ball to politicians. UK PM Johnson will chair an emergency meeting to tackle coronavirus outbreak on Thursday – Reuters Amid the rush to fight the deadly virus, the UK will introduce more stringent measures to tackle coronavirus outbreak (COVID-19), as per Reuters. 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 Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. FXStreet News share Read Next EU Council President Michel: Will assess US travel ban situation later today FX Street 2 years Once again, the concerns over the coronavirus outbreak knocked-off the risk sentiment in Asia this Thursday, courtesy US President Trump’s sudden announcement of a temporary travel ban from Europe, in an effort to contain the spread. Further, investors were also disappointed by a lack of economic stimulus package unveiled by Trump to fight the virus impact on the economy. Amid double blow, the demand for the safe-havens- the yen, CHF and the US bonds strengthened at the expense of the risk assets such as the Asian equities, US stocks futures and oil prices. 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