• Next week is typically among the quieter of the month which means news around the coronavirus will continue to dominate.
• Minutes from the Federal Reserve, ECB, RBA and RBI will be in focus. On the economic data front, flash PMI surveys for the US, UK, Eurozone, Japan and Australia could provide an insight into the early impact of the coronavirus outbreak on the global economy.
• The initial panic regarding coronavirus spread was that it could be as bad as SARS and yet, it’s been worse, and it turns out investors aren’t that worried after all. The stock market can be a very strange place at times.

The British sterling has reacted positively to a leap in inflation after weak wage data beforehand. The GBP/USD pair has recovered from a dip after suffering from the decelerated UK wage growth in December.