China’s Center for Disease Control and Prevention (CDC) top epidemiologist Wu Zunyou warned at a briefing on Thursday, Covid is seen spreading throughout the holiday season.

Additional quotes

“The Chinese provinces are in different stages of Covid outbreak.”

“Covid outbreaks have peaked in Beijing, Tianjin and Chengdu.”

“China is strengthening its Covid variant monitoring.”

Meanwhile, China's Senior health official Liang said that the country “will report to the World Health Organization (WHIO) if we find any new Covid variant.”

Market reaction

Despite a minor improvement in risk sentiment, the Chinese proxy, AUD/USD, remains pressured toward 0.6700. The pair is trading at 0.6722, down 0.18% on the day.