European session review: EUR little changed amid lingering fears about the coronavirus

EUR traded little changed against most other major currencies in the European session on Monday amid lingering fears over the economic impact of the outbreak of coronavirus.

The World Health Organization's (WHO) chief said the thousands of coronavirus cases in the Chinese city of Wuhan, the epicenter of a coronavirus, is likely "just the tip of the iceberg". The death toll in mainland China reached 908 on Sunday, with a total of 40,171 cases. China's President Xi Jinping said on Monday that the situation over the prevention of the coronavirus outbreak is still severe. He also promised to adopt more decisive measures to contain the spread of the coronavirus and speed up the development of drugs against it.

Market participants also assessed the survey from the Sentix research group, which revealed that the Eurozone investor confidence weakened in February due to uncertainty created by the coronavirus outbreak in China. According to the report, the investor confidence index dropped to 5.2 from 7.6 in January after three consecutive rises. The current situation index of the survey fell to 4.0 from 5.5 and the expectations gauge declined to 6.5 from 9.8.