The cases of Coronavirus in the United States could drastically rise next week, as rigorous testing is ramping up across the country. Testing is now fully available in all 50 states. The rising cases are reportedly causing much burden on health officials across the country, with many communities already grappling with shortages of medical equipment.
Latest reports suggest that the number of reports of positive tests has gone from a few thousand on Sunday to more than 13,000 as more people are infected, according to the U.S. Centers for Disease Control and Prevention (CDC)
Eyes are increasingly turned on to the United States, given the growing cases, rapidly picking up across the country. Markets then become increasingly sensitive to updates, something that has been seen with; China, South Korea, Italy and Spain.
Should we see these numbers pick up drastically over the weekend, then expect some huge gaps to the downside for U.S. stock indices. There would also likely be huge flows into safe-haven, particularly JPY and CHF. In terms of the USD, it would be tricky to judge, given the fact that the U.S. is what would be the problem, despite the fact that it has been a safe-haven of late.
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