Australia tightens the clamps
August is the second-worst month on the calendar for the Australian dollar over the past decade and it’s starting with some tough news this year.
Officials in Victoria announced a state of disaster on metropolitan Melborne Sunday after another 671 new coronavirus cases. The most-worrisome development is that there are 760 cases across the state where officials have no idea about the origination.
The new measures include a curfew from 8 pm to 5 am with residents only allowed to leave home for food, work, study or exercise.
“We can no longer have people visiting others. We can no longer have people simply out and about for no good reason whatsoever,” the Premier said.
Schools will return to remote learning and childcare centers will be closed.
AUD/USD looks very vulnerable to me, especially with US Congress seeming failing to make any headway on a stimulus deal over the weekend.