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- European session review: JPY appreciates amid strong demand for safe havens
European session review: JPY appreciates amid strong demand for safe havens
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 11:00 | Germany | Bundesbank Monthly Report | ||||
| 12:30 | Canada | Wholesale Sales, m/m | January | 0.9% | -0.2% | 1.8% |
| 12:30 | U.S. | Chicago Federal National Activity Index | February | -0.33 | 0.16 |
JPY rose against other major currencies in the European session on Monday, supported by strong demand for safe havens as governments across the globe imposed lockdowns and extend entry bans to contain the fast-spreading coronavirus disease, raising worries about the potential economic impact of the pandemic.
According to the latest data from Johns Hopkins University, the number of confirmed global coronavirus cases surpassed 300,000 over the weekend as deaths now total over 13,000. Growth of COVID-19 cases in Europe and the U.S. fueled worries about a deep global recession.
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