Germany hits new record for daily infections, bad news from Remdesivir and Johnson & Johnson

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The latest coronavirus updates from Germany’s Robert Koch Institute (RKI) suggest that the European powerhouse is in deep trouble when it comes to the virus.

Daily new cases rose beyond Thursday’s record level of 6,638 to 7,334 new infections, bringing the total count to 348,557. The number of deaths, however, seems to decrease from 33 the day before to 24, marking a total of 9,734 deaths.

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Elsewhere, the World Health Organization (WHO) released the news that Gilead Sciences Inc.’s previously acclaimed vaccine, Remdesivir had little or no effect on the length of hospital stay of COVID-19 patients or the chances of survival.

Further, Johnson & Johnson it also updated its status on the suspension of the vaccine trial saying that it would take at least a few days for an independent safety panel to evaluate the unexplained illness of a study participant that caused a pause in the vaccine trial by the company ”, according to Reuters.

Market reaction

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The news of negative risk weighs on S&P 500 futures, as it currently marks intraday losses of 0.15% at 3,472. The US Dollar Index (DXY) remains on the positive front and thus puts pressure on EUR / USD around 1.1700.

Credits: Forex Street

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