Weekend China news – on Saturday health officials confirmed zero COVID still in place | Forexlive

Via US media (ps. ‘dynamic clearing’ is China’s strict ‘zero’ COVID approach):

• At a news conference on Saturday, health officials reiterated their commitment to the “dynamic-clearing” approach to Covid cases as soon as they emerge.
• China’s anti-Covid measures are “completely correct, as well as the most economical and effective”, said disease control official Hu Xiang. “We should adhere to the principle of putting people and lives first, and the broader strategy of preventing imports from outside and internal rebounds.”

Rumours are all over the place about China relaxing its ‘zero’ approach. Financial market volatility ensues as the rumours swirl and denials (like the one above) counter them. I’ve just posted the early forex rates guide which shows the US dollar up and ‘risk’ FX lower (the AUD is a prime example, its largely viewed as a ‘China-proxy’ trade) on the weekend denial:

From that post: