# Asia Wrap:"Risk-Off" Dash And Brexit Ahead | Investing.com

> After a risk-off sell-off in Asia, oil fell over 2%, the yuan dropped more than 0.5%, and AUD/USD approached 0.6800 as iron ore futures fell up to 6% on virus concerns. The analyst argues the move may be an overreaction amid thin holiday liquidity. China extended its Lunar New Year holiday by three days to February 2 to slow the spread.

- Date: 2020-01-27 · published 2020-01-27T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/55362-asia-wrap-risk-off-dash-and-brexit-ahead-investing-com
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Broad risk aversion lowers demand expectations for energy, metals and China-linked currencies, which can pressure commodity prices. Weaker iron ore and oil also raise uncertainty for commodity-linked currencies such as the AUD.

## Read by commodity

- WTI: bearish ▼
- AUDUSD: bearish ▼
- USDCNY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2020-01-27 | 5 | -9.3% | -2.8 | Risk-off Asian selloff pushed oil down more than 2% on Jan 27 amid virus fears and the holiday extension. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-07-26 | [Australian dollar rocket running out of fuel \| Investing.com AU](https://feedsoft.ai/events/40742-australian-dollar-rocket-running-out-of-fuel-investing-com-au.md) | -3.1% | -6.5% |
| WTI | 2021-04-22 | [ECB In Focus, While Australia Pokes The Panda \| Investing.com](https://feedsoft.ai/events/47829-ecb-in-focus-while-australia-pokes-the-panda-investing-com.md) | +4.0% | +3.2% |
| WTI | 2026-09-21 | [Canadian dollar under pressure as oil retreats and US rate outlook supports greenb By Investing.com](https://feedsoft.ai/events/17703-canadian-dollar-under-pressure-as-oil-retreats-and-us-rate-outlook-supports.md) | -12.0% | -4.2% |
| WTI | 2021-08-31 | [Oil Prices Tumble On Demand Concerns Ahead Of OPEC+ Meeting](https://feedsoft.ai/events/45724-oil-prices-tumble-on-demand-concerns-ahead-of-opec-meeting.md) | -1.2% | +8.9% |
| WTI | 2023-01-30 | [Risk aversion weighs on Canadian dollar ahead of Fed rate decision - The Globe and Mail](https://feedsoft.ai/events/38035-risk-aversion-weighs-on-canadian-dollar-ahead-of-fed-rate-decision-the-globe.md) | -7.9% | -5.2% |
| USDCNY | 2022-12-05 | [Asia FX sinks as hawkish Fed jitters offset China COVID hopes By Investing.com](https://feedsoft.ai/events/6577-asia-fx-sinks-as-hawkish-fed-jitters-offset-china-covid-hopes-by-investing-com.md) | -0.9% | -1.5% |
| USDCNY | 2020-09-24 | [SA Rand Follows Chinese Yuan, Euro Lower as U.S. Dollar Rebound Continues \| Investing.com ZA](https://feedsoft.ai/events/51396-sa-rand-follows-chinese-yuan-euro-lower-as-u-s-dollar-rebound-continues.md) | -0.3% | -1.9% |
| USDCNY | 2023-02-27 | [Chinese yuan approaches 7 level as PBOC slashes midpoint rate By Investing.com](https://feedsoft.ai/events/37549-chinese-yuan-approaches-7-level-as-pboc-slashes-midpoint-rate-by-investing-com.md) | -0.7% | -1.3% |

## Sources

- investing.com: https://www.investing.com/analysis/asia-wrapriskoff-dash-and-brexit-ahead-200501686

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.