China's sinovac vaccine gets accolades, Johnson & Johnson jabbing linked for 23 blood clotting case

Anil Panchal FXStreet

As the global economy gradually overcomes the pandemic, except for India and Japan, Bloomberg came out with the report suggesting China’s coronavirus (COVID-19) vaccine from the Sinovac Biotech Ltd. as highly effective in the real-world study.

The report cites research on the Indonesian health workers and found over 96% got protected from hospitalization due to the jabbing. “Indonesia tracked 25,374 health workers in capital city Jakarta for 28 days after they received their second dose and found that the vaccine protected 100% of them from death and 96% from hospitalization as soon as seven days after, said Health Minister Budi Gunadi Sadikin in an interview on Tuesday. The workers were tracked until late February,” said Bloomberg.

Earlier Brazil was spotted cheering the Chinese vaccine while Chile criticized the pandemic’s cure.

Elsewhere, the US Centers for Disease Control and Prevention (CDC) found 23 blood clotting issues linked to the Johnson & Johnson inoculation while saying, “the benefits of the Johnson & Johnson vaccine outweigh the risks.”

It's worth mentioning that Brazil suspended the use of the AstraZeneca vaccine in pregnant women while Pfizer-BioNTech gets multiple orders from the Eurozone of late.

FX implications

Although the news should have ideally favored the market sentiment, the pre-US CPI caution seems to weigh on the mood.

Read: AUD/USD: Wavers above 0.7800 amid cautious sentiment on US Inflation day

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.