In addition to the Coronavirus (CoV) development, there are many geo-political events happening including but not limited to the Italian elections and the U.S. Embassy attack. It is difficult to assess the effects of these on the financial markets and economy. Overall suggesting patience to see how things evolve in this regard.
The Bank of England (BoE) is not likely to change its current policies as Governor Mark Carney is completing his work there.
It is noteworthy to point out how China as been working to stay in front of the CoV evolution and containment, this is overall positive on helping to contain the CoV outbreak. However, the commodity markets and emerging market currencies are being held back from a potential bullish move, as indicative of oil and the Canadian dollar weakening. Gold appears to be getting a sustained bid, likely to be indicative of a potential monetary move by central banks to use the CoV development to offer additional non-transitory monetary stimulus. Suggest patience at this point, and look to this potential breakout of commodities and emerging market currencies.