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Reuters has reported on the news that Spain has approved new criteria to restrict travel in and out of large cities with high coronavirus infection rates, mainly affecting Madrid and its metropolitan area, Health Minister Salvador Illa said on Wednesday.  

”The new restrictions, to be enforced in the coming days, apply to municipalities with a population of more than 100,000 that meet certain epidemiological criteria.”

Key notes

  • ”Spain’s Health Minister says that the government has approved new criteria to restrict travel in large cities with high coronavirus infection rates.”
  • ”Spain’s Health Minister says new coronavirus restrictions to be enforced in coming days, affect Madrid and 9 surrounding cities.”

However, in more recent news relating to the story, Reuters also reported that ”Madrid’s regional authorities do not agree with the central government’s plans to lock down the capital city in the coming days, regional health chief Enrique Ruiz Escudero told a news conference, saying the decision was not valid legally.”

”Escudero said the COVID-19 situation in Madrid was stabilising and added regional authorities were still open to dialogue with the central government,” Reuters explained. 

Market implications

Such headlines go into the mix that has started to fray the bullish prospects for the euro.

More on this here: EUR/USD bullish prospects are fraying and the US dollar is on the verge of ‘Wave-5’

In the above chart, the euro is under pressure at resistance and there are prospects to the downside vs the greenback the more the bulls fail at this critical zone.