China to closely monitor economic operation, focus on impact from virus outbreak

Eren Sengezer FXStreet

China will closely monitor the economic operation and focus on the impact from the coronavirus outbreak, China's state media reported on Monday. Additionally, China's President Xi Jinping said that their most important task at the moment is the control of the coronavirus.

"China will speed up the start of new investment projects," the state media noted and added that they will stabilise consumption.

Risk sentiment

These comments don't seem to be having a significant impact on market sentiment. As of writing, major equity indexes in Europe were up between 0.25% and 0.5% while the 10-year US Treasury bond yield was up 1.6% at 1.537%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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