Moody’s recently reacted to the increasing risks to China’s credit rating mainly due to the coronavirus outbreak. The global rating giant cited the likely decline in consumption and its credit implications as the main catalysts. It’s worth mentioning that the latest data from China suggests that Hubei registered the addition of 64 deaths, to total 414 in China, by the end of February 03. Also, 2,345 new cases of the coronavirus infected persons were reported from the epicenter of the contagion. Key quotes Coronavirus outbreak will curb consumption. Credit implications for the government are evolving. Both monetary and fiscal stimulus for China to help curtail the potential economic impact. FX implications Considering the negative signals from the key financial catalyst, the market’s risk tone should have been weighed down if it’s not the normally inactive early-Asian session. The USD/JPY and Gold both show fewer responses to the news while taking rounds to 108.70 and $1,576 by the press time. 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 GBP/JPY Price Analysis: On the back foot inside descending triangle FX Street 2 years Moody’s recently reacted to the increasing risks to China’s credit rating mainly due to the coronavirus outbreak. The global rating giant cited the likely decline in consumption and its credit implications as the main catalysts. It’s worth mentioning that the latest data from China suggests that Hubei registered the addition of 64 deaths, to total 414 in China, by the end of February 03. Also, 2,345 new cases of the coronavirus infected persons were reported from the epicenter of the contagion. Key quotes Coronavirus outbreak will curb consumption. Credit implications for the government are evolving. Both monetary and fiscal stimulus… 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.
