Coronavirus update: Receding pace of confirmed cases/deaths from Hubei

As per the latest official readings from coronavirus epicenter Hubei, there are new 1.807 infected cases as well as 93 deaths on February 17. The readings suggest that the confirmed cases registered 3.1% advance from the previous day versus 3.4% prior whereas the rise in the death toll also receded from 6.3% to 5.5%, as cited by LiveSquawk.

FX implications

Despite the gradual decline in the pace of confirmed/death cases, the market’s risk barometers, namely the AUD/USD and USD/JPY, failed to portray any recovery as the US equity futures keep the negative tone. The reason could be traced from expectations, backed by comments from Chinese experts studying the virus, that the deadly contagion will prevail till April.