Coronavirus update: Germany’s death toll nears 9K, R-rate trends higher at 2.76

The number of confirmed coronavirus cases rose to 190,862 with a total of 8,895 deaths, as reported by the German disease and epidemic control center, Robert Koch Institute (RKI), on Tuesday.

Cases increased by 503 in Germany on Tuesday versus Monday’s +537. The death count rose by 10, the tally showed.

The institute estimates the virus reproduction rate (R-value), the 4-day moving average, to be at 2.76 as of Monday. The 7-day average rate ticked lower to 1.83, still way above the key 1.00 threshold.

The fresh outbreak in North Rhine-Westphalia has raised significant concerns over community transmission, as the German economy continues to re-open up.

EUR/USD looks to 1.1300

EUR/USD is flirting with the 10-DMA at 1.1266 amid the upbeat market mood and following the wild ride seen in the last hours. Greenback remains broadly weaker due to increased demand for the risk assets.

• EUR/USD trades above 10-day SMA ahead of Eurozone preliminary PMIs