Delta variant concerns are continuing to build in Germany


The country is seeing 8,324 new cases today and that is the highest since 21 May with total active cases also seen rising further to ~55,900 - the highest since 9 June.

The latest figures underscore a bit of a worrying trend with the 7-day incidence rate seen rising to 40.8 and above a key threshold set out by the German government of 35.0.

German chancellor Merkel and state leaders have stressed that the figure remains the most important factor when assessing the virus situation in the country, even pinning that at 35.0 as an pivotal benchmark for introducing a nationwide "health pass".

The "health pass" is basically a vaccine certificate and while that has already been informally implemented (or at least a negative COVID-19 test) when going to events in some states, a nationwide system has not yet been agreed to or standardised.

As is the case, keep an eye on the developments here in case this starts to become more of a bigger risk for euro markets and the outlook going into the latter stages of Q3.