Coronavirus update: Beijing’s new cases tick higher; US virus situation remains grave

Dhwani Mehta FXStreet

According to China’s National Health Commission (NHC), Beijing city reports 13 new coronavirus cases as of end-June 24 vs. 7 cases reported a day earlier.

Further details

China reports 19 new coronavirus cases in the mainland as of end-June 24 vs. 12 a day earlier.

China reports 5 new imported coronavirus cases in the mainland as of end-June 24 vs. 3 a day earlier.

China reports 1 new asymptomatic coronavirus cases in the mainland as of end-June 24 vs. 3 a day earlier.

Total of 83,449 confirmed coronavirus cases in the mainland as of June 24.

Meanwhile, the US had its largest single day total of new COVID-19 cases on Wednesday with over 36,000. the previous high was April 25 with 24,203, as cited by the Chinese news outlet, CGTN.

Nevada Governor signed an order to require face masks to be worn in public late Wednesday. Texas Governor said that there is a massive virus outbreak sweeping the state.

Citing economists, the LA Times reported that California is unlikely to recover to its pre-coronavirus prosperity over the next three years.

Market reaction

The risk sentiment is somewhat improving in Asia following the blood bath on Wall Street overnight despite the downbeat virus status coming in from Asia-Pacific.

S&P 500 futures have flipped to mild gains above 3050 while the Japanese stocks are off their daily lows.

AUD/USD is challenging highs near 0.6875 as USD/JPY struggles to extend gains above 107.00.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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