Japan Econmin Nishimura: No need to declare state of emergency now
|Japan has confirmed 1,307 cases of COVID-19, out of which 45 have died while 310 have recovered. Japan's Economy Minister Yasutoshi Nishimura has stated that there is no need to declare state of emergency now. Meanwhile, the cases in Tokyo are in the rise – on Thursday reported an unprecedented number of new coronavirus cases, local media reported.
Tokyo reported 47 cases of the infection, also known as COVID-19, the biggest number in a single day, Kyodo news reported and just yesterday, the city registered 41 cases, triggering concern that the virus is rampant in the country, a government panel found. It has been residents of the Japanese capital have been asked to stay home over the weekend.
Market implications
For the time being, stimulus measures are being cheered by markets with tired sellers, allowing for stocks to rally. However, a barrage of bad economic data is likely to hit the fan and possibly overshadow the US jobless claims overnight in some parts of the world as the global economy sinks into a recession. The US dollar is offered at the time being but it could well catch a bid of other nations are showing recessionary numbers as well.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.