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Coronavirus: Chinese car sales plunge 80% YoY in February, South Korean cases rise to 5,621

China has reported that sales of vehicles plummeted by 80% YoY in February. Toyota stated a 70.2% plunge in its sales in China. While automobile purchases may pick up, later on, the fall is dramatic. 

In a separate development, South Korea confirmed 293 additional coronavirus cases, with the total reaching 5,621. The North Asian nation is one of the world's hotspots, which include China, Italy, Iran and recently Brazil.

The US Federal Reserve announced an emergency interest rate cut of 50 basis points on Tuesday to mitigate the fallout from the health crisis.

USD/CAD trades with modest losses just above mid-1.3300s, focus remains on BoC

The USD/CAD pair traded with a mild negative bias through the early European session, albeit has managed to recover around 15 pips from daily lows. Th
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US: PMI forecast to slip in February

The Institute for Supply Management (ISM) will issue its Non-Manufacturing Purchasing Managers’ Index for February on March 4th at 15:00 GMT. Services
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