Coronavirus update: Germany’s daily rate of new cases drops but jump in deaths still a concern

Dhwani Mehta FXStreet

According to the German disease and epidemic control center, Robert Koch Institute (RKI), the number of confirmed coronavirus cases rose to 99,225, with a total of 1,607 deaths reported on Tuesday.

Cases rose by 4% to 3,834 in Germany, marking the fifth straight drop in the daily rate. The death toll jumped by 173.

Despite the slowdown in the new cases, the rise in deaths doesn’t seem to be welcoming news, given that the government may want to consider scaling back the lockdown measures.

The Economy Minister Peter Altmaier said that there isn’t enough data to support loosening of restrictions.

Meanwhile, the number of coronavirus infections rose more than 1.32 million globally, with 74,087 deaths, according to a Reuters tally.

EUR/USD reaction

The shared currency remains unfazed by the German Industrial Production and virus update, as EUR/USD keeps its range around 1.0830. The focus now remains on the dollar dynamics and risk trends in the day ahead.

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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