AUD/JPY Finds Support Near 73.60 As China Hubei Reports Drop In New Corona Virus Cases
Friday, 14 February 2020 08:02 WIB |
CURRENCIES |AUD,Dolar Australia,
The bid tone around the anti-risk Japanese weakened, allowing AUD/JPY to bounce up from near 73.60 after China's Hubei government reported a big drop in the new coronavirus cases using the new method introduced earlier this week.
The number of new cases was 4,823 on Thursday, down significantly from Wednesday's 14,840, Hubei province reported a few minutes ago. Note that the number includes clinically diagnosed patients “ those with symptoms, but yet to be tested positive.
The selling pressure around the AUD/JPY pair eased after Hubei's report, helping the cross recover from the three-day low of 73.62 to 73.72, the level where it is currently trading.
The pair, however, is having a hard time building on the recovery from session lows as the broader market is still looking risk-averse. At press time, the futures on the S&P 500 are flashing red, while oil prices are flatlined.
The Asian data docket is light, hence the pair is likely to continue tracking the broader market sentiment.
Source : FX Street