Mainland China's total number of confirmed coronavirus cases hits 80,967 as of end-March 19 – Reuters News

Ross J Burland FXStreet

The latest data in China's COVID-19 cases is out and there is another consecutive day where Hubei province reports zero new cases on March 19 vs zero on March 18.

Mainland China reports 39 new confirmed cases of coronavirus on March 19 vs 34 on March 18.
Mainland China reports 3 new coronavirus deaths on march 19 vs 8 on March 18.
Mainland China's total number of confirmed coronavirus cases hits 80,967 as of end-March 19.
Mainland China's total number of coronavirus deaths reaches 3,248 as of end-March 19.
Mainland China's imported coronavirus cases at 228 as of end-march 19, up 39 from day earlier.
China's Hubei province reports zero new cases on march 19 vs zero on March 18.
China's Hubei province reports 2 new deaths on march 19 vs 8 on March 18.
Death toll from coronavirus outbreak in china's Hubei at 3,132 as of end-March 19.
Beijing recorded six imported COVID19 infections on Thursday, one from the #US and five from the UK, totaling the capital’s imported cases to 70.

Market implications

It is good news that the prior epicentre if COVID-19 is in recovery:

However, Italy is going through the apocalypse, now the world epicentre of COVID-19 and the rest of the world's case are growing exponentially:

Markets in the US were slightly higher on Thursday, but risks are firmly skewed tot he downside with another 65% of losses to go until the 2008 lows in the Dow: Wall Street Close: Benchmarks higher in corrective and choppy markets

On the upside, following on from yesterday's news, Remdesivir could be approved very soon for COVID-19, while speaking to reporters at a news conference at the White House, US President Donald Trump said Gilead's Remdesivir seems to have very good results fighting the coronavirus. Gilead Sciences' shares rose sharply following these comments but the company hasn't yet published an official statement on the experimental COVID-19 therapy.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD remains sidelined around 1.1600

EUR/USD clings to its decent gains on Monday and continues to move in a consolidative mood around the 1.1600 region. Improved risk appetite following the US-Iran agreement to reopen the Strait of Hormuz continues to weigh on the US Dollar, lending support to the risk complex. Looking ahead, investors are likely to remain on the sidelines ahead of Wednesday's FOMC meeting.

GBP/USD retreats from tops, back to 1.3420

GBP/USD keeps its advance past the 1.3400 yardstick at the beginning of the week. In the meantime, Cable continues to draw support from improved market sentiment following reports that the US and Iran have reached a framework agreement aimed at ending the conflict and reopening the Strait of Hormuz.

Gold stays firm, still below $4,400

Gold builds on its recent gains on Monday, climbing well north of the $4,300 mark per troy ounce. The yellow metal benefits from renewed selling pressure on the Greenback as investors reassess the implications of the US-Iran agreement to end hostilities and reopen the Strait of Hormuz. Market participants now turn their attention to Wednesday's FOMC gathering.