Japan’s Nishimura: Coronavirus outbreak starting to impact economy

Dhwani Mehta FXStreet

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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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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