Australia's Victoria State reports 240 new coronavirus cases, 13 deaths in last 24 hours
|Australia's Victoria State reports 240 new coronavirus cases, 13 deaths in the last 24 hours.
Melbourne went into a second lock-down, Stage 3, on July 9 in response to the rapid increase in new cases of coronavirus. Subsequently, on August 8, Melbourne went to a Stage 4 lock-down and regional Victoria to Stage 3.
The key issue now - how successful will the Melbourne lock-down be and will Australia have more success at the next attempt to reopen the economy - or will “second waves” continue to weigh on the outlook for some time yet?
Meanwhile, as of August 19, 2020, the outbreak of the coronavirus disease (COVID-19) had been confirmed in over 210 countries or territories.
The virus had infected over 22.3 million people worldwide, and the number of deaths had totalled over 784 thousand. The most severely affected countries include the US, Brazil, and Mexico.
AUD updates
The greenback was perky overnight treasury yields while a softening in risk appetite pushed the AUD/JPY lower.
Risks remain balanced for the AUD/USD, but the dollar's correction may continue to pressure risk sentiment and thus weigh on the Aussie crosses.
At the time of writing, AUD/USD is trading at 0.7187, below the 0.7275 level.
Meanwhile, as per the overnight analysis, AUD/USD has reached the downside target at the structure:
AUD/USD ahead of the FOMC minutes:
Bears will be prudently seeking a discount and bearsh set-up before looking to catch the next potential opportunity to short.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.