GS revised down their forecast for Australian Q3 GDP last week:
Analysts at the investment bank see the lockdown of Australia's largest city through until September, and even then only minor easings through that month.
The bank has cut its Q3 GDP forecast further, to -1.4% q/q.
Meanwhile, we've had the latest numbers announced from NSW:
- 145 new cases in the previous 24 hours (i.e. for Sunday local time here in Australia)
For Saturday (i.e. reported on Sunday ) was 141.
For Friday July 23 (ie. reported on Saturday) was 168.
We have seen countless times over the past year (plus) that numbers reported for weekends tend to dip. And so it is here, the past two reports are indicating a weekend dip. Let's hope the new case number does not rebound for Monday, but if history is any guide it will.
Of the 145 reported just now its the case, once again, that a large proportion were circulating in the community for all (51 is the number) or some (25) of their infectious period (with 11 remaining under investigation).
NSW now has 156 in hospital
- 44 in intensive care
- 18 on ventilators
AUD/USD is making fresh session lows:
