China’s Pres. Xi: China has taken comprehensive measures for coronavirus outbreak

Dhwani Mehta FXStreet

China has taken comprehensive measures for coronavirus outbreak, said the country’s President Xi Jinping in a call with US President Trump on Friday, the China state TV reports.

Additional Comments

The long-term improving momentum of China’s economy won’t change.

China is fully confident and capable of defeating the outbreak.

Risk-off back in vogue

Earlier today, the country’s central bank’s official and the Vice Finance Minister also addressed the concerns regarding the rapidly spreading coronavirus and its negative economic impact across the globe.

Amid renewed coronavirus fears grappling the markets, the risk tone remains tepid in Asia, with the safe-havens in demand at the expense of the higher-yielding assets such as the equities and Treasury yields.

Meanwhile, USD/JPY stays pressured below 110.00 while the Aussie keeps losses near 0.6715 amid RBA’s GDP forecasts downgrade.

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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