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Redmond, Washington declares a state of emergency due to coronavirus outbreak

According to Reuters, Redmond, a city in King County, Washington, 24 km east of Seattle, has declared a state of emergency intended to make it easier to ask for more resources. 

Note that the city is the head quarters of Microsoft.

The US Health Officials said on Monday, six people in the Seattle area have died of the new coronavirus.

So far, 18 coronavirus cases have been reported in Kong County.

Markets eagerly await the G7 finance ministers and central bank governors conference call on Tuesday at 1200 GMT, which is aimed to discuss measures to combat the widening coronavirus outbreak and its economic impact.

Market reaction

The risk sentiment is seen souring on the above headlines, with the yen accelerating gains, as USD/JPY breaches the 108 support. S&P 500 futures are also seen paring back gains while the Japanese stocks have turned negative.

The fear gauge, AUD/JPY is losing 0.60% to trade below 70.50, at the moment.

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