Hong Kong reports its first China coronavirus death, risk sentiment remains tepid

Dhwani Mehta FXStreet

After the Philippines reported its first coronavirus death on Monday, Hong Kong is said to have confirmed the first death there.

On Monday, the World Health Organization (WHO) Head Tedros again playdown rising risks from China’s coronavirus, reiterating that there is no reason for measures that unnecessarily interfere with international travel and trade.

Meanwhile, the death toll in China rose on Tuesday by a new daily record to more than 420, as reported by the National Health Commission (NHC). All of the new deaths were in central Hubei province, the epicenter of the virus outbreak.

Market Implications

The market mood remains fragile despite the bounce in the Asian equities and firmer S&P 500 futures alongside Treasury yields.

The yen defends the bid tone vs. the greenback around 108.70 while the Aussie remains capped below 0.6700 ahead of the Reserve Bank of Australia (RBA) interest rate decision.

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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