New Covid cases in Japan soared to the highest of the four-tier scale and Prime Minister Yoshihide Suga said the country is on “maximum alert.” A total of 2,191 cases had been confirmed in a single day for the first time on Wednesday, breaking its daily record.
Trading Signals Asia observed that most of the Asian index declined on Wednesday depicting investors’ doubt in trade stock amid the new wave of coronavirus cases in the region. Japan’s Nikkei declined by 0.42% while the Kospi index in South Korea traded down 0.25%. Meanwhile, in Hong Kong, the Hang Seng index dropped 0.6%.
As the cases in the US also continue to climb, authorities are considering reinitiating the stay-at-home orders and shutting down nonessential businesses in several cities including New York. Despite the progress on the vaccine development, US Stocks alongside US futures also slipped after the rally on the other day as the death toll in the US reached 250,000 and reported nearly 162,000 new cases.
In the markets
AUDUSD is still in a dip of around -0.75% in the last 24 hours, despite an unexpected increment of 178.8k jobs release versus the market expectations or minus 30k. We expect to see a rebound later in the US session following the market sentiment toward the US of covid update. Trade now with the following signals from Trading Signals Asia: