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Yen gains, yuan and Aussie dollar slip as China virus fears return – The Journal Pioneer

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By Stanley White

TOKYO (Reuters) – The yen rose from a three-week low against the dollar on Thursday as investors sought safe havens after China’s Hubei province, the epicenter of a coronavirus outbreak, reported a sharp jump in the number of new cases.

The Chinese yuan slipped against the dollar as the latest update on the spread of the virus provided a grim reminder to investors of the threat to the global economy, that has shaken markets in recent weeks.

Using a new method of diagnosis, Hubei on Thursday reported 14,840 fresh cases of the virus as of Feb. 12, up from 1,638 new cases on Tuesday, with the number of deaths in the province rising by a daily record of 242 to 1,310.

“When you see numbers like this, you can’t help but move to risk-off trades, which means buy the yen and sell stocks,” said Ayako Sera, market strategist at Sumitomo Mitsui Trust Bank in Tokyo.

“If the authorities can reasonably explain this, things might calm down, but I expect risk aversion to continue.”

The yen rose 0.2% on Thursday to 109.89 yen, pulling back from its weakest since Jan. 21.

In the onshore market, the yuan slipped 0.13% to 6.9809 per dollar, while offshore the Chinese currency gave up 0.14% to 6.9830.

The Australian dollar , widely used as a proxy for risk on Chinese assets, fell 0.22% to $0.6724, while the New Zealand dollar dipped 0.2% to $0.6453.

Both Australian and New Zealand have extensive trade ties with China, with trade in commodities, tourism and education especially vulnerable to disruption from the virus.

The New Zealand dollar had enjoyed a lift the previous day when the central bank dropped a reference to the chance of future rate cuts in its policy review. Earlier on Thursday, an assistant governor told Reuters the central bank has a “genuine neutral bias” amid improving domestic demand, but is open to reviewing that position if the economic hit from the coronavirus epidemic worsened.

The World Health Organization has likened the epidemic’s threat to terrorism, underscoring the anxiety in financial markets about its impact across businesses and trade worldwide.

Chinese policymakers have implemented a raft of measures to support the economy as fears grow the coronavirus outbreak could have a damaging impact on growth in the Asian giant and globally.

Elsewhere in the currency market, the dollar traded at $1.0868 per euro, close to its strongest level in more than two years due to growing optimism about the health of the U.S. economy.

Sentiment for the greenback has turned positive since data last week showed the U.S. labor market is improving.

In contrast, the euro wilted on Wednesday after data showed euro zone manufacturing output plunged more than expected in December, boding ill for fourth quarter euro zone gross domestic product data due on Friday.

The euro changed hands at 83.91 pence on Thursday in Asia, close to its lowest since Dec. 17.

The pound was little changed at $1.2955, having managed to inch away from 2-1/2-month lows hit at the start of the week due to encouraging economic data. But, investors remain anxious over the tough line taken by British Prime Minister Boris Johnson over trade talks with the European Union.

(Reporting by Stanley White; Editing by Shri Navaratnam & Simon Cameron-Moore)

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How many Nova Scotians are on the doctor wait-list? Number hit 160,000 in June

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HALIFAX – The Nova Scotia government says it could be months before it reveals how many people are on the wait-list for a family doctor.

The head of the province’s health authority told reporters Wednesday that the government won’t release updated data until the 160,000 people who were on the wait-list in June are contacted to verify whether they still need primary care.

Karen Oldfield said Nova Scotia Health is working on validating the primary care wait-list data before posting new numbers, and that work may take a matter of months. The most recent public wait-list figures are from June 1, when 160,234 people, or about 16 per cent of the population, were on it.

“It’s going to take time to make 160,000 calls,” Oldfield said. “We are not talking weeks, we are talking months.”

The interim CEO and president of Nova Scotia Health said people on the list are being asked where they live, whether they still need a family doctor, and to give an update on their health.

A spokesperson with the province’s Health Department says the government and its health authority are “working hard” to turn the wait-list registry into a useful tool, adding that the data will be shared once it is validated.

Nova Scotia’s NDP are calling on Premier Tim Houston to immediately release statistics on how many people are looking for a family doctor. On Tuesday, the NDP introduced a bill that would require the health minister to make the number public every month.

“It is unacceptable for the list to be more than three months out of date,” NDP Leader Claudia Chender said Tuesday.

Chender said releasing this data regularly is vital so Nova Scotians can track the government’s progress on its main 2021 campaign promise: fixing health care.

The number of people in need of a family doctor has more than doubled between the 2021 summer election campaign and June 2024. Since September 2021 about 300 doctors have been added to the provincial health system, the Health Department said.

“We’ll know if Tim Houston is keeping his 2021 election promise to fix health care when Nova Scotians are attached to primary care,” Chender said.

This report by The Canadian Press was first published Sept. 11, 2024.

The Canadian Press. All rights reserved.

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Newfoundland and Labrador monitoring rise in whooping cough cases: medical officer

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ST. JOHN’S, N.L. – Newfoundland and Labrador‘s chief medical officer is monitoring the rise of whooping cough infections across the province as cases of the highly contagious disease continue to grow across Canada.

Dr. Janice Fitzgerald says that so far this year, the province has recorded 230 confirmed cases of the vaccine-preventable respiratory tract infection, also known as pertussis.

Late last month, Quebec reported more than 11,000 cases during the same time period, while Ontario counted 470 cases, well above the five-year average of 98. In Quebec, the majority of patients are between the ages of 10 and 14.

Meanwhile, New Brunswick has declared a whooping cough outbreak across the province. A total of 141 cases were reported by last month, exceeding the five-year average of 34.

The disease can lead to severe complications among vulnerable populations including infants, who are at the highest risk of suffering from complications like pneumonia and seizures. Symptoms may start with a runny nose, mild fever and cough, then progress to severe coughing accompanied by a distinctive “whooping” sound during inhalation.

“The public, especially pregnant people and those in close contact with infants, are encouraged to be aware of symptoms related to pertussis and to ensure vaccinations are up to date,” Newfoundland and Labrador’s Health Department said in a statement.

Whooping cough can be treated with antibiotics, but vaccination is the most effective way to control the spread of the disease. As a result, the province has expanded immunization efforts this school year. While booster doses are already offered in Grade 9, the vaccine is now being offered to Grade 8 students as well.

Public health officials say whooping cough is a cyclical disease that increases every two to five or six years.

Meanwhile, New Brunswick’s acting chief medical officer of health expects the current case count to get worse before tapering off.

A rise in whooping cough cases has also been reported in the United States and elsewhere. The Pan American Health Organization issued an alert in July encouraging countries to ramp up their surveillance and vaccination coverage.

This report by The Canadian Press was first published Sept. 10, 2024.

The Canadian Press. All rights reserved.

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Bizarre Sunlight Loophole Melts Belly Fat Fast!

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