Risks stay heavy as US House cancels Thursday’s planned session, China-linked hackers attack Microsoft email server

Anil Panchal FXStreet

Early Thursday in Asia, Wednesday night for the West, White House Bureau Chief Steve Herman came out with tweet suggesting the US House will close the legislative week earlier amid threats on Capitol Hill.

The media man tweeted:

House scraps planned Thursday session after security officials warn of a possible plot to breach the US Capitol by an unnamed militant group amid extremists' fabricated claim #March4th is the “true Inauguration Day” when @POTUS45 will be sworn in for a second term.
— Steve Herman (@W7VOA) March 3, 2021

Also negatively affecting the sentiment are the chatters over cyberattacks on Microsoft’s email server. However, US Congressman John Katko said there’s “nothing new” while highlighting, "The intent of Chinese-backed hackers to exploit vulnerabilities like this across American infrastructure is sadly nothing new."

FX implications

Although news relating to China has been turned down, US President Joe Biden is up for speaking at the White House and hence traders are cautious to get more clues for the much-awaited $1.9 trillion stimulus. The same weighs on the risk barometers in Asia, like AUD/USD and gold. That said, AUD/USD remains depressed around 0.7770 by press time whereas Gold drops towards $1,700 while fading the bounce off fresh low since June 2020 marked a few hours back.

Read: Gold Price Analysis: XAU/USD bears eye sub-$1,700 area amid strong yields, US dollar

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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