Japan Econmin Nishimura: No need to declare state of emergency now

Japan has confirmed 1,307 cases of COVID-19, out of which 45 have died while 310 have recovered. Japan's Economy Minister Yasutoshi Nishimura has stated that there is no need to declare state of emergency now.  Meanwhile, the cases in Tokyo are in the rise – on Thursday reported an unprecedented number of new coronavirus cases, local media reported. 

Tokyo reported 47 cases of the infection, also known as COVID-19, the biggest number in a single day, Kyodo news reported and just yesterday, the city registered 41 cases, triggering concern that the virus is rampant in the country, a government panel found. It has been residents of the Japanese capital have been asked to stay home over the weekend.

Market implications

For the time being, stimulus measures are being cheered by markets with tired sellers, allowing for stocks to rally. However, a barrage of bad economic data is likely to hit the fan and possibly overshadow the US jobless claims overnight in some parts of the world as the global economy sinks into a recession. The US dollar is offered at the time being but it could well catch a bid of other nations are showing recessionary numbers as well. 




Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

AUD/USD keeps gains above 0.6100 on Australian Trade data

Having regained 0.6100 on a jump in the weekly Australian Consumer COnfidence data, AUD/USD consolidates the spike to 0.6120 after the country's Trade and Job Ads data failed to inspire the bulls. US dollar trades broadly flat amid a better market mood. RBA in focus.


USD/JPY: Mildly bid above 109 amid mixed sentiment

Having benefited from the recovery in virus data from global hot-spot, while marking a three-day winning streak on Monday, USD/JPY buyers seem to catch a breath around 109.25 amid the early Asian session on Tuesday.


Gold: Refreshes four-week high, $1,685 on bulls’ radar

Gold prices remain on the front foot while taking the bids near $1,668, up 0.70%, amid the Asian session on Tuesday. In doing so, the bullion refreshes the four-week high with an intraday peak of $1,674.15 while also marking a fifth consecutive daily gain.

Gold News

WTI snaps three-day winning streak

WTI oil fell by over 8% on Monday, ending a three-day winning streak, which saw prices rise from $19.94 to $29.11. The black gold fell as Saudi Arabia and Russia's decision to delay an emergency meeting to discuss output cuts shifted focus back to oversupply concerns.

Oil News

Johnson Hospitalised, Oil Awaits Treatment

Sterling slipped after UK Prime Minister Boris Johnson was moved to the intensive care unit for coronavirus treatment, but the broad risk trade remained strong on optimism with slowing growth in the number of Corona virus cases. 

Read more