As of today, there have now been 16.4 million coronavirus cases around the world. Of those, 4.3 million are in the United States, which marked a lower daily increase of 56,000 yesterday. If this trend continues, it is possible to state that the United States has finally reached the peak of Covid-19 outbreaks.
Brazil currently has 2.4 million cases, adding 23,000 yesterday; it might also be past the peak of the virus. India sits in third place with 1.4 million infections, 50,000 of which came yesterday. Russia, South Africa, and Mexico also remain huge epicenters of Covid-19 at the moment.
Europe remains stable for the moment, though increases in the number of infections in the southern regions of the continent have sparked concerns about a second wave of the coronavirus pandemic.
The United Kingdom announced people coming in from Spain will have to undergo a quarantine, while several other EU states are implementing various travel restrictions as well. This news has hit airlines particularly hard and the stocks of Europe’s most popular carriers have dropped.
In Asia, today the markets rallied on news that China’s economy is now healthy and growing in full force. Earlier today data showed industrial growth by 11.5% in China, which is significantly higher than the forecasts.
Other important fundamental reports today include the Ifo Business Climate in Germany, which exceeded investors’ expectations, coming in at 90.5 versus a forecast of 89.3. Later today we expect the durable goods orders from the United States.
But arguably the most interesting instrument today is gold, which is beating its all-time high records and is now trading around $1,929.50, having touched $1,937,60 earlier in the morning. The precious metal is now absorbing most of the safe haven demand on the markets which stems from the fears of a renewed conflict between the United States and China.
