spiked higher this morning with safe-haven demand intensifying as the global spread of CoVid-19 continues. Equities came under pressure and risk-beta currencies were pressed lower.
The number of CoVid-19 cases in Italy spiked at the weekend, with the total number of cases now at 157. The surge has caused many outdoor events in the north of the country to be canceled while a travel ban has been implemented affecting 50,000 people southeast of Milan. Some towns around Milan and Venice have been quarantined and Austria has said it is considering closing its border but is still allowing trains through at the moment. New Zealand has extended its travel ban on foreigners arriving from mainland China for a further eight days.
The total number of worldwide cases a is now at 79,360 as at 11.30 am Singapore time with South Korea second in the table behind China with 763 and Italy in third at 157 (Source: John Hopkins University)