Japan’s Suga: 13 unwell who returned to Japan on the 2nd flight from Wuhan

Dhwani Mehta FXStreet

Japanese Chief Cabinet Secretary Suga said that 13 people are unwell who returned to Japan on the 2nd flight from Wuhan.

This comes after the NHK reported the Japanese Health Ministry, saying that three Japanese who returned from Wuhan, China, on a government-chartered flight on Wednesday have been confirmed to be infected with the coronavirus.

Meanwhile, a Japanese medical expert told Reuters that there is a possibility that coronavirus can be transmitted from people without symptoms and that it has been confirmed in China that coronavirus can be transmitted from people without symptoms.

Market Implications

The risk-off wave is seen picking up pace during the mid-Asian trades after more cases of the coronavirus are likely reported in Japan.

USD/JPY is printing fresh daily lows at 108.89 while S&P 500 futures drop nearly 0.50% and the US Treasury yields losing almost 1%. The Asian equity markets are in a sea of red amid intensifying fears over the coronavirus fallout.

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.

AUD/USD hangs near two-month low as RBA bets counter easing Iran tensions

AUD/USD drifts lower during the Asian session on Tuesday, though it manages to hold above a nearly two-month low touched the previous day amid mixed cues. Diminishing odds of a near-term RBA rate hike act as a headwind for the Aussie, while the US Dollar draws some support from hawkish Fed expectations. However, easing tensions in the Middle East keeps US Dollar bulls on the defensive and should limit losses for the currency pair ahead of US inflation figures.

USD/JPY consolidates above 160.00 amid intervention fears, Israel-Iran ceasefire

USD/JPY holds steady above 160.00 during the Asian session on Tuesday as expectations that authorities will step in again to prop up the Japanese Yen hold back bulls from placing fresh bets. Moreover, a de-escalation of tensions between Israel and Iran undermines the safe-haven US Dollar, capping the currency pair. Traders also seem hesitant and opt to wait for the release of the latest US inflation figures on Wednesday and Thursday.

Gold remains depressed as hawkish Fed bets offset softer USD

Gold struggles to attract any meaningful buyers and remains close to its lowest level since March 23, touched the previous day. Expectations of more hawkish central banks, including the US Fed, continue to undermine demand for the non-yielding bullion. Meanwhile, a halt in fighting between Israel and Iran keeps the US Dollar bulls on the defensive, which should act as a tailwind for the precious metal as traders await the latest US inflation figures, due on Wednesday and Thursday.

Strategy resumes BTC accumulation with 1,550 Bitcoin purchase, adjusts STRC dividend schedule

Bitcoin treasury firm Strategy bought 1,550 BTC last week for roughly $101.3 million, according to a Form 8-K filing on Monday. The purchase, made at an average price of $65,332 per Bitcoin, was funded through proceeds from the company's at-the-market equity offering program.

$1.75 trillion: Is SpaceX the most popular IPO in history, or the most engineered?

On June 12, the largest initial public offering (IPO) in history is set to hit the tape, and almost nobody is asking whether the price is right, because almost everybody already wants in.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.