China’s Commerce Ministry: Accelerating plans for further measures to support firms and economy

Dhwani Mehta FXStreet

A spokesman from China Commerce Ministry said on Friday that the government is accelerating plans for further measures to support firms and the economy.

Further comments:

January - February trade hurt by work delay, lockdown, holiday.

Hit on Q1 trade is large but bearable.

2020 trade expected to be in a reasonable range.

Market implications

With risk-off at full steam in Asia amid rising coronavirus fears, the AUD/USD pair hit a fresh 11-year low below 0.6600 while the kiwi is on its way to breach the 0.6300 level. The yen is recovering ground, as USD/JPY extends the drop below 112.00.

The S&P 500 futures are down 0.45% with the Asian equities reporting moderate losses.

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.

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