China National Health Commission’s Jiao: Infection of medical staff in virus outbreak shows loopholes in treatment methods

Dhwani Mehta FXStreet

Following the briefing on the coronavirus, China's National Health Commission official Jiao said that infection of medical staff in the virus outbreak shows there are loopholes in treatment methods.

Further Comments:

Taking more strict measures in hospitals to protect healthcare workers in the virus outbreak.

Will increase training for healthcare workers nationwide.

The Commission will publish new cases nationwide daily throughout Lunar New Year.

So far have no evidence that there are 'super spreaders'.

Separately, China Disease Control Center Head Gao said that they are still learning about the new virus when asked to compare deadliness of new virus to SARS.

Additional Quotes:

New coronavirus adapting and mutating.

New virus originated from a market with illegal wildlife transactions.

Changes in virus in line with human knowledge of the virus, but we need more information.

We are now at the most critical stage of prevention and control.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

AUD/USD consolidates above 0.7200 after hot Chinese CPI data

AUD/USD is extending its consolidative price action above 0.7200 during the Asian session on Wednesday, uninspired by hot Chinese CPI and PPI data. Meanwhile, rising RBA rate-hike bets act as a tailwind for the Aussie amid Yen-inspired US Dollar weakness. Traders await the release of US inflation figures later in the week for fresh impetus.

USD/JPY stays in red near 153.50 amid aggressive BoJ hike bets

USD/JPY keeps the bearish tone intact at around 153.50 during European trading hours on Wednesday. A strong Reuters Tankan business survey adds to the case for continued BoJ policy normalisation and supports the Japanese Yen. This, along with a broadly weaker US Dollar, keeps the pair close to a nearly seven-month low set on Tuesday.

Gold bounces up to $4,400 with the bearish trend intact

Gold trims losses with price action returning to the $4,400 area during the European morning session, after bouncing from $4,345 lows on Tuesday. The precious metal is drawing support from broad-based US Dollar weakness, although the broader trend remains bearish, after losing more than $100 in the previous three trading days.

Pi Network's rebound holds as momentum improves

Pi Network (PI) extends its recovery on Wednesday, trading above $0.098 after finding support around the 50-day Exponential Moving Average earlier this week. The rebound comes as the Pi Core Team highlights the importance of strengthening its developer ecosystem to expand application-level utility across the network.

Oil, Apple and JPY in focus

Oil prices are rising on Wednesday as tit-for-tat strikes between Iran and the US threaten oil supplies as the two sides battle for control of the Strait of Hormuz. Stock futures have switched their attention from a strong earnings season to the challenges ahead, including a 10-year Treasury yield that is hovering close to the 4.8% level.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.