Coronavirus update: Victoria reports 148 new cases, S. Korea sees 280

Dhwani Mehta FXStreet

The coronavirus second-wave continue to haunt the Asia-pacific regions, with the Australian state of Victoria recording 148 new infections on Tuesday while eight daily deaths added.

Meanwhile, the new infections in South Korea are reported at 280 this Tuesday.

President Moon expressed his concerns over the virus surge and lockdown measures.

Key comments

“Prolonged level 2 lockdown measures will add a burden to the economy.”

“Worried that consumption, demand will shrink again.”

Separately, China reported 14 new COVID-19 cases for Aug. 24, all of which were imported infections involving travellers from overseas, the National Health Commission (NHC) reported on Tuesday.

Market reaction

Amid the risk-on market profile, traders have ignored the virus stats, as the optimism over the US-China trade deal and vaccine hopes underpin.

S&P 500 futures flirt with record highs near 3,450 while AUD/USD adds 0.20% to trade near-daily highs of 0.7182.

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.

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