At the beginning of the week, there were new Covid-19 outbreaks in Asia leading to local blockadesand the worldwide number of cases has exceeded 16.25 million, with 646,841 deaths, according to a Reuters count.
China has experienced the highest daily increase in new coronavirus cases since April; Australia experienced a record daily increase in new cases after an exacerbation in south-east Victoria; Vietnam blocked the city of Danang after three residents tested positive for Covid-19; and Hong Kong will announce further restrictions, including a ban on dining in restaurants and making face masks mandatory outdoors, according to local media reports.
You can read more on our main Covid-19 live blog here:
To make matters worse, tensions between China and the United States are increasingsince China claimed to have taken over the American consulate premises in the southwestern city of Chengdu. He ordered the facility closed in retaliation for being expelled from the Chinese consulate in Houston, Texas.
It is not a surprise gold prices are rising, while investors rush into safe haven assets. Spot gold rose more than $ 30 to a new high of $ 1,943.93 an ounce this morning, while silver prices also rose, an increase of 6.2% to $ 24.16 l ‘ounce.
The dollar is slipping and falling to its lowest level in a year – due to rising tensions between the United States and China, fears for the United States and the global recovery and expectations that the US Federal Reserve could soften its inflation position at the Tuesday and Wednesday meeting, which would allow interest rates to remain low longer.
Here Ryanair, The largest European airline, reported an after-tax loss of 185 million euros in the three months to 30 June, when the Covid-19 crisis cut traffic by 99%, and the airline claims it is impossible to say if he will profit this year. At the end of the quarter, Ryanair went from a skeleton service to flying 40% of its normal schedule.
Ryanair’s chief of finance, Neil Sorahan, said the budget airline was not plans to cut flights to Spain despite British government’s “unpleasant” decision to advise against any non-essential trip to the countryand the reimposition of a two-week quarantine on all travelers arriving from Spain after a wave of Covid-19 cases.
It’s a quiet day on the economic data front, but we’re looking closely at the Ifo business survey from Germany mid-morning and the US durable goods orders for lunch.
- 09:00 BST: Germany Ifo business climate index for July (Forecast: 89.3)
- 13:30 BST: US durable goods orders for June (forecast: 7.2%)