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On the weekend, Australia had its deadliest day in the coronavirus pandemic, with 17 fatalities in the state of Victoria, according to Bloomberg. 

Lead paragraphs

The number of new cases climbed by 394, taking the state’s total to 14,659, Victoria’s Premier Daniel Andrews said in a media briefing in Melbourne on Sunday.

Ten of the 17 deaths were related to elderly care centres, he said.

While Australia enjoyed early success in flattening the curve of infections, Victoria is at the center of a renewed outbreak.

The state is experiencing some of the strictest social-distancing measures in the western world, crippling economic activity there and shaking confidence across the nation.

“Victorians are entitled to know more and to get the answers,” Frydenberg said on Saturday. Ten new cases were reported for New South Wales, according to the state’s heath ministry. One is a returned international traveler, seven were locally transmitted and close contacts of known cases, while two are under investigation with no known links, it said.  

AUD/USD implications

AUD/USD could start the week on the front foot ina risk on environment pertaining to higher equity closes last week. However, the spread of the virus will make for compelling action from the central bank and possibly dent the prospects of a higher currency down the line. 

At their stage, however, the Reserve Bank of Australia sound comfortable with the currency at these levels and has not indicated any immediate action to follow.