Over the weekend, we have had fairly concerning covid-19 data being reported, as listed below.

  • US CDC reported 44,703 new coronavirus cases for total of 2,504,175 and deaths rose by 508 to 125,484
  • Texas coronavirus cases rose by 5357 to 148,728, which was a 7th consecutive day that cases increased by over 5,000 and the Texas positive-test rate surged to a record 14.3%
  • California coronavirus cases rose by 4,810 to 211,243 as of Saturday and the 14-day average positivity rate is trending modestly upwards, according to State Health Department
  • Florida coronavirus cases increased by 8,530 vs. Prev. record increase of 9,585 a day before and Georgia cases rose by 2,235 which is the largest increase since the outbreak began
  • California Governor Newsom told Imperial County to shut back down amid the COVID-19 surge and ordered 7 counties including LA to close bars. while San Francisco Mayor Breed announced the city will delay the reopening planned for Monday

It is evident that covid-19 cases are accelerating to the point where certain states have now had to revert back to strict lockdown measures. As these worries mount and death polls increase, risk FX (AUD, NZD, CAD) are likely going to feel pressure whilst safe havens (Gold, CHF, JPY) should see continued support overall.