Coronavirus update: Germany’s death toll tops 8,300, reproduction rate drops to 0.83

Dhwani Mehta FXStreet

According to the latest data from the German disease and epidemic control center, Robert Koch Institute (RKI), the number of confirmed coronavirus cases rose to 179,002, with a total of 8,302 deaths reported on Friday.

Cases increased by 432 in Germany on Tuesday versus Monday’s +289. The death toll rose by 45, the tally showed.

The institute estimates the virus reproduction rate (R-value) stays below the 1.0 key level, estimated at 0.83 as of Monday. `

The total estimate of about 162,000 persons has recovered as of the latest update.

EUR/USD challenges highs on 1.0900

EUR/USD holds the higher, challenging the daily tops of 1.0920, as the US dollar retreats across the board amid a risk-on market profile. The drop in the German virus reproduction rate could likely bode well for the euro.

EUR/USD edges higher after Monday's Doji as risk assets in Asia rally

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.