First US case of Wuhan Coronavirus this afternoon - CNN

CNN reports that the US Centers for Disease Control and Prevention is expected to announce this afternoon that the first case of Wuhan coronavirus has been reported in the United States, in Washington state, a federal source outside the CDC tells CNN.

Wuhan, the source of the virus, has set up a WuhanPneumonia control centre to prevent the further spread of the disease. The Global Times was reporting yesterday that Wuhan has ordered stronger supervision of markets and public transportation hubs and encouraged the cancellation of unnecessary public gatherings, vowing to release timely updates.

However, such controls have failed to contain the virus and this, as Robert Carnell, Chief Economist Head of Research, Asia-Pacific argued yesterday, "may become a top headline in the coming days and weeks." Looks as though that unfortunate time has come sooner than expected.

CNN has said that the source is involved in the matter and was made aware of a CDC media briefing scheduled for later today.

The novel virus, which was first identified last month in Wuhan, China, has so far infected more than 300 people and killed six, in an outbreak that has been reported in five countries -- now including the United States.

It is unclear if this person recently traveled to China, where and how they became infected, and if this person has transmitted the virus to anyone else in the United States.

Updates

• US health officials confirm first case of new coronavirus in Washington State.
• CDC says Risks remain low in the USA.
• CDC says expects more u.s. cases of Wuhan Coronavirus.

Additional reading

• Flu season goes viral - ING

• Wuhan-Pneumonia pandemic control centre set up to prevent spread of virus

Market implications

Gold and yen were bid on the news yesterday in Asia, and gathering some pace in the US session today.  This could be the Black swan event of 2020 in the making...god forbid! Tourism and Airlines will be under pressure as will jet fuel/energy markets. 

When looking back, when comparing to the last human chain of SARS transmission in the first outbreak (from November 2002 to July 2003), it was successfully disrupted on 5 July 2003 owing to global cooperation, the international spread of SARS coronavirus (SARS-CoV). It had resulted in 8,098 SARS cases in 26 countries, with 774 deaths.  Over the same period, USD/JPY rallied, March 2003-July from 116.32-120.63, (May lows were 115.09). It then dropped in August from 120-103 Dec business of the same year. The Japanese fiscal year-ends March 31st so the yen is usually stronger seasonally around then as the flows from Japanese exporters buying at the end of their financial year.