We ask citizens to cancel all non-essential trips

German Chancellor Angela Merkel, noted on Wednesday that the country is in a “very serious” situation regarding the coronavirus, noting that the number of patients in intensive care units has doubled in the past 10 days, according to Reuters.

Additional conclusions

“The rate of spread of the virus is especially high and we are seeing exponential growth.”

“Doubling times have been shortened.”

“Our healthcare system can cope with current numbers, but we will reach capacity in the coming weeks if this rate continues.”

“In many areas, we are no longer able to track and trace due to capacity limits.”

“The curve must be flattened once more.”

“We know that now we must reduce contacts once again.”

“The federal and state governments agreed to new blockade measures as of November 2.”

“We will review in two weeks what effect the new measures have had.”

“These are very tough measures that we have agreed to.”

“These measures apply to the whole country.”

“We want to keep schools and kindergartens open.”

“We have reached a point where we cannot say where 75% of cases come from.”

“Private meetings will be limited to a maximum of 10 people from a maximum of 2 households.”

“We call on citizens to cancel all non-essential trips.”

“The hotels will be open only for essential purposes, not tourism.”

“The stores will remain open in the new blockade, with less than 1 person for every 10 square meters.”

“Bars and restaurants will close in a renewed anti-COVID lockdown.”

“We will provide financial support to the affected companies.”

“Smaller companies will get 75% of revenue in support.”

“We want to make sure that older people in the homes can receive visits.”

Market reaction

The pair EUR/USD It was down slightly after these announcements and was last seen shedding 0.4% on the day at 1.1749.