Coronavirus update: Receding pace of confirmed cases/deaths from Hubei

Anil Panchal FXStreet

As per the latest official readings from coronavirus epicenter Hubei, there are new 1.807 infected cases as well as 93 deaths on February 17. The readings suggest that the confirmed cases registered 3.1% advance from the previous day versus 3.4% prior whereas the rise in the death toll also receded from yesterday's 6.3% to 5.5%, as cited by LiveSquawk.

FX implications

Despite the gradual decline in the pace of confirmed/death cases, the market’s risk barometers, namely the AUD/USD and USD/JPY, failed to portray any recovery as the US equity futures keep the negative tone. The reason could be traced from expectations, backed by comments from Chinese experts studying the virus, that the deadly contagion will prevail till April.

Read: Coronavirus peaking? How will it impact the Chinese & wider economies and FX?

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.

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