Coronavirus update: Germany refreshes record daily infections, bad news from Remdesivir, Johnson and Johnson

Anil Panchal FXStreet

The latest coronavirus (COVID-19) updates from Germany’s Robert Koch Institute (RKI) suggest that the European powerhouse is in deep trouble as far as the virus is concerned.

The daily new cases rose past Thursday’s record level of 6,638 with 7,334 extra infections leading to 348,557 total counts. The death toll, however, seems to ease from the previous day’s 33 to 24 while marking a total of 9,734 fatalities.

Elsewhere, the World Health Organization (WHO) came out with the news that the previously cheered vaccine from Gilead Sciences Inc., Remdesivir, had little or no effect on COVID-19 patients' length of hospital stay or chances of survival.

Furthermore, Johnson and Johnson also updated its status over the vaccine trial halt by saying, it would take at least a few days for an independent safety panel to evaluate an unexplained illness of a study participant that led to a pause in the company’s COVID-19 vaccine trial,” as per Reuters.

Risks dwindle and so does EUR/USD…

The risk-negative news weighs on S&P 500 Futures as it currently marks 0.15% intraday losses to 3,472 versus the early-Asia’s mild risk-on mood. The US dollar index (DXY) remains on the positive front and hence pressures EUR/USD around 1.1700.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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