China’s NHC: Mainland China reports 119 new coronavirus cases vs. 125 previous

Dhwani Mehta FXStreet

According to China’s National Health Commission (NHC), Mainland China had 119 new confirmed cases of coronavirus on Tuesday, lower from 125 reported on Monday.

Further details (via Reuters)

The total number of cases on the mainland has now reached 80,270.

The number of deaths rose by 38 to bring the total mainland China death toll to 2,981 by March 3.

Hubei province, the epicentre of the outbreak, reported 37 new deaths and 115 new cases on Tuesday.

Market reaction

The market mood remains cautious amid expectations of emergency rates cut by other global bankers, as they are likely to take the lead from the US Federal Reserve (Fed) to battle the coronavirus crisis.

The US Treasury yields remain heavy, capping the bounce in USD/JPY near 107.50. The mixed trading in the Asian equities and rebound in Wall Street futures keep the bulls somewhat motivated.

Investors also weigh in the sharp drop in China’s Caixin Services PMI data.

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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