Coronavirus update: Victoria reports 64 new infections, Queensland shuts its border

Dhwani Mehta FXStreet

Victoria records 64 new COVID-19 cases on Tuesday when compared to 75 news infections reported on Monday.

The double-digit increases in the number of new cases of coronavirus in Victoria extend into the 15^th straight day. The state has imposed the harshest lockdown measures once again to contain the second-wave.

Victoria announced it would impose four-week lockdown in 10 areas in Melbourne city. This is going to pour cold water on the economic re-opening narrative.

Meanwhile, the state of Queensland announced that it would keep its border shut to Victoria amid the intensifying virus spread.

Last week, New South Wales, the country’s most populous state, said it would continue to keep its border open as it focused on supporting its economy amid the pandemic. The state reported no new cases on Tuesday.

Market reaction

AUD/USD remains well bid near daily highs of 0.6886 on not so encouraging virus stats. The gains in the S&P 500 futures underpin the higher-yielding aussie. The spot adds 0.25% on a daily basis.

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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