Quite apart from the human toll the economic toll is mounting and will continue to do so.
We got an early read this morning with Australia's Service PMI collapsing in July:
- Australia Markit preliminary PMIs for July: Manufacturing 56.8 (prior 58.6) Services 44.2 (prior 56.8)
In past minutes we had today's number climbing again which has ensured lockdown will extend in August.
AUD is showing little immediate response. It recently made a fresh low for 2021.