Gold Prices Steady as Hormuz Tensions Fuel Fed Rate Concerns 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
German Bund Yields Hit Three-Week Low as Energy Prices Ease and ECB Outlook Softens 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
US Stock Futures Hold Steady as Iran Hormuz Deal and Earnings Shape Market Sentiment 
Asian Stocks Slip as AI Rally Fades, Oil Holds Steady on Iran Peace Deal Hopes 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
The USD/CNY currency pair is not expected to show any big movement for the time being given the spreading Coronavirus epidemic that largely affected various parts of the country, bringing trade and business to a standstill, according to the latest research report from Commerzbank.
The latest assessment suggests that the peak of new virus infections will arrive before the end of this month, which is more or less in line with the previous assessment.
In the meantime, China's experts also expect the epidemic may be over by April, which indicates that the biggest impact on China's economy will take place in the first quarter of 2020.
While the local governments remain hesitate to restart the production at a full speed due to virus concerns, the central government has started to pressure local provinces to put more focus on economic growth. For the FX market, all these messages do not necessarily form any big surprise, the report further noted.
