Iran confirms 22 new coronavirus deaths, 141 total cases

Dhwani Mehta FXStreet

Iran state news agency, IRNA, reports 22 new coronavirus deaths while a total of 141 cases confirmed.

Meanwhile, Kuwait’s Health Ministry official said that the country now has 43 confirmed cases of coronavirus, adding that all the cases involved people who had been to Iran.

Iranian officials on Wednesday reported a total of 139 cases of coronavirus and 19 deaths, per Reuters.

Earlier today, Estonia and Denmark reported the first coronavirus case while Iraq reported its sixth case.

Denmark confirms first coronavirus infection, Iraq announces sixth case

Risk-off eases ahead of EU open

Markets remain on the edge amid growing coronavirus pandemic fears across the globe and its eventual impact on the global economies.

At the time of writing, the US 10-year Treasury yields have bounced-off all-time lows, as the US equity futures trim losses. However, the greenback remains in lows across its main peers, in light of US President Trump’s response to the coronavirus spread in the US.

Meanwhile, USD/JPY is seen extending the bounce above 110.00 while the Aussie advances further beyond 0.6550.

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD falls toward 1.1700 on broad USD recovery

EUR/USD turns south and declines toward 1.1700 on Wednesday. The US Dollar gathers recovery momentum and forces the pair to stay on the back foor, as traders look to USD short-covering ahead of US inflation report on Thursday. However, the downside could be capped by hawkish ECB expectations.

GBP/USD trades deep in red below 1.3350 after soft UK inflation data

GBP/USD stays under strong selling pressure midweek and trades below 1.3350. The UK annual headline and core CPI rose by 3.2% each, missing estimates of 3.5% and 3.4%, respectively, reaffirming dovish BoE expectations and smashing the Pound Sterling across the board ahead of Thurday's BoE policy announcements.

Gold clings to moderate daily gains above $4,300

Following Tuesday's volatile action, Gold regains its traction on Wednesday and trades in positive territory above $4,300. While the buildup in the USD recovery momentum caps XAU/USD's upside, the cautious market stance helps the pair hold its ground.