Japan’s Nishimura: Coronavirus outbreak starting to impact economy
|Japanese Economy Minister Nishimura was out the wires in the last hour, via Reuters, noting that the China coronavirus outbreak is beginning to affect Japan's regional economies.
Key Quotes:
Watching for possible hit to consumption.
Got instruction from PM Abe to take necessary steps to mitigate the impact of the coronavirus with eye on possible tapping reserve funds.
Q4 2019 GDP growth could be lower than the previous quarter.
Market Implications:
With the turnaround in the risk sentiment in Friday’s Asian trading and reviving concerns over the China coronavirus outbreak and pre-US NFP nervousness, the Japanese yen remains bid against the greenback.
USD/JPY remains under pressure below 110.00 as S&P 500 futures and Treasury yields fall back in the red.
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