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Germany reported 8,685 new coronavirus cases on Monday, easing from the record daily surge for the second straight day, the latest statistics released by the Robert Koch Institute (RKI) showed.

The total tally stands now stands at 437,866. On Sunday, the count rose by 11,176.

The new deaths rose by 24, bringing up the total count to 10,056. Meanwhile, the active cases in the country topped 100K mark.

The virus situation in the Old Continent is worrying, with new lockdowns and curfews enforced in Spain, France and Italy. The rate of increase in the daily count is alarming and rattling markets once again, as the contagion accelerates.

  • Record numbers of new coronavirus in Europe put nations on lockdown

However, Australia is set to ease the virus restrictions in its COVID-19 epicenter, Victoria, as the no. 2 most populous state reported no new cases in the last 24 hours.

Victorian State Premier Daniel Andrews said that the outbreak is now under control and its time to open up the economy.

Market reaction

EUR/USD is pressured amid virus woes, testing daily lows near 1.1830. Meanwhile, the encouraging news from Australia fail to rescue the aussie bulls, as AUD/USD drops 0.28% to 0.7114, at the time of writing.