China CDC: Current wave of COVID infections nearing an end

As per the latest weekly update from China’s Center for Disease Control and Prevention (CDC), reported by Reuters, “China's current wave of COVID-19 infections is nearing an end, and there was no significant rebound in cases during the Lunar New Year holiday.”

The news also quotes an anonymous CDC official as saying, “The number of severe COVID cases and deaths was also trending downward.”

Also read: China Cabinet aims to boost consumption and imports

Market reaction

The news should have underpinned the AUD/USD upside due to the likely positive impact on the market sentiment amid China-linked optimism. However, the Aussie pair prints mild losses around 0.7100 by the press time.

Also read: USD/CNH prints mild losses around 6.7400 on China-linked concerns ahead of PMIs, Fed and US NFP