The preliminary PMIs for February will take centre stage next week as they will provide the first insight into the possible impact of the coronavirus on the global economy. The flash releases in the Eurozone, Japan, the United Kingdom and the United States should reveal how businesses outside of China have been affected by the outbreak with the risk that runaway equity markets may be handed a tough reality check. In other data, Australian employment and Canadian and UK retail sales will be watched closely, while in Japan, fourth quarter GDP numbers are likely to renew ...
Point appreciated.. but like Fx prices a single day pullback bar on a time series progression measured in weekly and monthly terms is of no consequence. Its the aggregate that counts.
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