On top of the reports from earlier, Shanghai district to require all shops to shut, residents to stay home, Bloomberg is now reporting that Beijing hs reported a record number of Covid cases during its current outbreak, reviving concern the capital may face a lockdown as authorities seek to stamp out community spread of the virus.
''The city reported 99 cases for Sunday, up from 61 on Saturday.''
While the total is still low, the spike is one of the biggest since the outbreak started,'' the report warns.
This will be reviving lockdown concerns and will potentially reverberate through financial markets weighing on risk appetite and currencies, such as the Aussie, that trades as a proxy. So far, however, the bulls are taking on critical 4-hour resistance vs. the US dollar in the open and have tallied up over 0.60% in gains on the session.