Biden administration plans to end emergency declarations on covid-19 on May 11

Anil Panchal FXStreet

Early Tuesday morning in Asia, an Associated Press (AP) reporter quotes the White House statement suggesting that US President Joe Biden will end COVID-19 emergency declarations in the United States on May 11.

The news also mentions US President Biden’s pledge to use the veto if congress passes a bill to eliminate Covid vaccine mandate on healthcare providers working on certain federal programs.

On the previous day, China’s Center for Disease Control and Prevention (CDC) said, reported by Reuters, “China's current wave of COVID-19 infections is nearing an end, and there was no significant rebound in cases during the Lunar New Year holiday.”

Also read: China CDC: Current wave of COVID infections nearing an end

AUD/USD remains pressured

Despite the upbeat news, the risk-barometer AUD/USD pair remains depressed around 0.7050, down for the third consecutive day, as traders await Aussie Retail Sales for December and China’s official activity data for January.

Also read: AUD/USD finds intermediate support around 0.7050, risk-off mood still intact

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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