China reports 10 new coronavirus cases in Mainland as of end-April 22 vs 30 a day earlier

Ross J Burland FXStreet

Mainland China reported 10 new coronavirus cases as of the end of April 22, down from 30 a day earlier as the number of so-called imported cases involving travellers from overseas declined, the National Health Commission said on Thursday.

Key notes

China reports 10 new coronavirus cases in Mainland as of end-April 22 vs 30 a day earlier.
China reports 6 new imported coronavirus cases in Mainland as of end-April 22 vs 23 a day earlier.
China reports no new deaths in Mainland from virus outbreak as of end-April 22 vs zero a day earlier.
China says 27 new asymptomatic coronavirus cases in mainland reported as of end-April 22 vs 42 a day earlier.
China says total of 82,798 coronavirus cases in mainland China reported as of end-April 22.
China says total of 4,632 deaths from coronavirus outbreak reported in mainland China as of end-April 22.

Chinese economy under the spotlight

Meanwhile, there is a focus on the Chinese economy and its growth rates are being forecasted by economists as follows:

Resters Poll: China economy to grow 1.3% YoY in 2Q20, grow 5.3% in Q3 (vs. 3.5%; 5.9% in April 14 poll

Commodity currencies are under pressure with AUD/NZD rallying to fresh highs: AUD/NZD testing highest levels since November 2019

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 falls to near 1.1600 due to persistent bearish bias

EUR/USD depreciates after registering modest gains in the previous session, trading around 1.1610 during the Asian hours on Thursday. The technical analysis of the daily chart suggests a persistent bearish bias as the EUR/USD pair remains within the descending channel pattern.

GBP/USD underperforms as UK faces stagflation risks amid Middle East war

The Pound Sterling trades lower against its major currency peers, is down 0.22% around 1.3340 against the US Dollar, during the Asian trade on Thursday. The British currency faces selling pressures amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, a situation in which inflation accelerates with economic growth and employment conditions remaining stagnant.

Gold climbs near $5,200 as Iran war fuels safe-haven demand

Gold price extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East. US and Israeli strikes across Iranian territory and widespread Iranian missile and drone retaliation across the Middle East, including attacks on regional targets and military sites, prolong the crisis and its impact.

Top Crypto Gainers: Decred, Zcash, and Dogecoin lead recovery as Bitcoin crosses $72,000

Bitcoin trades above $72,500 at press time on Thursday, holding its 6% gain from the previous day, contributing to a broader market recovery. The total cryptocurrency market capitalization stands at over $2.43 trillion as the broader market sentiment improves significantly.

First Venezuela, now Iran: The US-China energy war escalates

At first glance, the latest escalation involving the United States with both Iran and Venezuela looks like another chapter in a long-running geopolitical story. But viewed through a broader strategic lens, something else may be unfolding: Energy.

Cardano Price Analysis: Approaches key trendline amid bearish sentiment

Cardano (ADA) price is approaching its descending trendline around $0.28 at the time of writing, set to shape the next directional move. The derivatives metrics paint a bearish picture, with ADA’s Open Interest continuing to fall and short bets rising among traders.