News

UK reports 41,192 covid cases as the numbers continue to climb

Boom, bust and echo

The world celebrated as the UK delta covid cases looked to form a v-shaped top and quickly sag but the picture is growing more complicated, just as kids head back to school.

The seven-day average of cases is now the highest it’s been since late July and daily cases at 41,192 are the second-highest since July 20. They compare to 32,181 reported last Monday, though holiday effects may be in play. The weekly pattern is for cases to peak on Friday and trough on Tuesdays, so the worst is like to come Friday.

In terms of the market, it’s not a factor at the moment. There are no new restrictions on the immediate horizon and it appears to be business as usual. A big reason why is that hospitalizations have remained far below earlier peaks.

UK hospitalizations
Cable today is the laggard in the G10 FX space. Today’s construction PMI was soft and all of Friday’s gain has been erased. Overall though, the moves have been moderate.
GBPUSD daily chart

Invest in yourself. See our forex education hub.

Articles You May Like

How to know the best time to enter a forex trade #forextrading
Gold rate today: Yellow metal edges marginally higher; silver holds Rs 62,000
ForexLive Asia-Pacific FX news wrap: China reopening rumours swirling
Month-end model points to USD downside but other factors favour USD bounce – TD
Silver Price Analysis: XAG/USD limited while under $21.50, upside bias above $20.85

Leave a Reply

Your email address will not be published. Required fields are marked *