Chinese city hosting key iPhone plant lifts Covid lockdown – Bloomberg

“The Chinese city of Zhengzhou shuttered hundreds of buildings and apartment blocks hours after lifting broader lockdown measures, as officials strive to make their Covid controls more targeted in line with Beijing’s directives,” reported Bloomberg.

Key quotes

The city, home to Apple Inc.’s largest manufacturing site in China, said late Tuesday that it was lifting a lockdown of its main urban areas put in place five days ago as Covid cases climbed.

Authorities then issued a lengthy list of buildings that would be declared high risk spanning the greater Zhengzhou region.

Markets remain jittery

Although the news should have ideally helped AUD/USD, the Aussie pair remains inactive around 0.6690, fading the previous day’s corrective bounce ahead of the key data/events.

Also read: Forex Today: All eyes on Federal Reserve's Powell, Aussie CPI and China PMIs