WHO’s Tedros “disappointed” by Beijing’s stalling in covid investigation

Anil Panchal FXStreet

In its latest report, the New York Post came out with the news quoting the World Health Organization’s (WHO) Director-General Tedros Adhanom Ghebreyesus while conveying that China is blocking investigations that probe into origins of the coronavirus (COVID-19).

The report mentions WHO’s Tedros saying, “Today, we learned that Chinese officials have not yet finalized the necessary permissions for the team’s arrival in China,” during a news conference in Geneva.

“I’m very disappointed with this news, given that two members had already begun their journeys and others were not able to travel at the last minute, but had been in contact with senior Chinese officials,” he said further, per the news.

FX implications

The news offers extra strength to the US-China tussle while also backing risks for the AUD/USD pullback as Australia and the US were among the first to push the investigation and Beijing retaliated afterward.

Read: Wall Street Close: US Stocks higher ahead of the Georgia election results

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.

AUD/USD struggles to recover as hawkish Fed bets escalate

The Australian Dollar is under pressure against the US Dollar as traders have raised bets supporting interest rate hikes by the Federal Reserve this year, with the AUD/USD pair posting a fresh almost eight-week low at around 0.7025. Hawkish Fed bets have accelerated following the release of the surprisingly strong United States Nonfarm Payroll (NFP) data for May.

USD/JPY holds higher ground toward 160.50 despite 'Yentervention' fears

USD/JPY holds higher ground toward 160.50 in Monday's Asian trading, despite intervention fears. Japan’s revised GDP print, which confirmed that the economy lost momentum in the first quarter, weighs on the Japanese Yen. Meanwhile, Friday's upbeat US NFP report and fresh Israel-Iran attacks favor the US Dollar bulls, underpinning the currency pair.

Gold regains some shine, focus is on $4,350

Gold manages to reclaim the $4,300 mark per troy ounce and above on Monday. The yellow metal’s small uptick comes on the back of modest losses in the US Dollar, while traders keep following geopolitical events in the Middle East and the likelihood of a tighter-for-longer Fed.

Solana: ETF outflows and bearish sentiment reinforce downside risks

Solana (SOL) remains under pressure, trading below $66 on Monday after losing nearly 20% in the previous week. Institutional demand weakened with spot Exchange Traded Funds recording a net outflow of over $6.5 million last week, snapping a four-week streak of inflows.

$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.