The Federal Reserve on Friday announced that it’s now monitoring the coronavirus as a potential threat to U.S. growth. The central bank wrote that “possible spillovers from the effects of the coronavirus in China have presented a new risk to the outlook.” Though recent reports have suggested steadier economic growth in Europe and China, the Fed warned the disease could lead to disruptions in China that spill over to the rest of the global economy. Equities have fallen from their recent highs more as sign that investors are locking in gains in front an unknown weekend in regard to the coronavirus. The death toll in mainland China crossed 600 on Friday with travel restricted and businesses shuttered across the country to contain the spreading of the virus. No one outside China wants to take a chance on what further bad news may arise.
The Canadian dollar is bit weaker as commodities drop slightly, even with the respectable job numbers, there is a tendency that investors are trading with a cautious tone, expect a narrow range the rest of the day.
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