💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Australia Braces for Virus Record as Second Lockdown Struggles

Published 30/07/2020, 10:30 am
© Bloomberg. SYDNEY, AUSTRALIA - JULY 29: Health care workers are seen at a pop-up COVID-19 testing clinic in Rushcutters Bay on July 29, 2020 in Sydney, Australia. Effective August 1, Queensland will close its borders to anyone from the Greater Sydney Area as 19 new cases are identified. Cases have been linked to three clusters; Thai Rock Wetherill Park, Western Sydney funerals and The Apollo and Thai Rock restaurants in Potts Point. Two new COVID-testing clinics have opened in the city suburbs of Surry Hills and Rushcutters Bay. (Photo by Jenny Evans/Getty Images)

(Bloomberg) -- Australia has suffered its worst day of coronavirus infections with Victoria state reportedly recording 723 new cases, dashing hopes that a lockdown in the city of Melbourne was bringing the outbreak under control.

The tally, reported by the Australian newspaper Thursday, eclipses the previous record by almost 200. State Premier Daniel Andrews will address the media at 11 a.m. local time and his office declined to comment on the report. Numbers had gradually decreased earlier this week, with the state recording 295 new cases on Wednesday, raising hopes the six-week lockdown of the city of 5 million people was working.

There are mounting concerns that the stay-at-home order in Melbourne, begun three weeks ago, will need to be extended and widened across other parts of the state, inflicting further damage on the economy. Health authorities also fear the virus is spreading to other states and territories, most of which have gone weeks without recording community transmissions.

The lockdown will be extended to the regional center of Geelong which lies an hour southwest of Melbourne by car, Sky News reported, without citing sources.

The Australian dollar fell 0.2% to 71.72 U.S. cents as investors sold the currency on reports of the spike in cases in Victoria.

Queensland state, which has closed its border to Victoria and the Greater Sydney area, is ramping up testing after two women who visited Melbourne didn’t self-isolate on their return and instead went to schools, restaurants and shopping centers for eight days unchecked before returning a positive result.

The resurgence in Victoria is taking a heavy toll on residents of age-care homes and is placing the health-care system under stress. The state said Tuesday it will suspend all but the most urgent elective surgeries in Melbourne as it seeks to free up hospital beds and nurses to fight a spike of cases in such facilities.

As of Wednesday, Victoria had 804 cases connected to age-care, and seven of the nine fatalities posted in the previous 24 hours were connected to the sector.

©2020 Bloomberg L.P.

© Bloomberg. SYDNEY, AUSTRALIA - JULY 29: Health care workers are seen at a pop-up COVID-19 testing clinic in Rushcutters Bay on July 29, 2020 in Sydney, Australia. Effective August 1, Queensland will close its borders to anyone from the Greater Sydney Area as 19 new cases are identified. Cases have been linked to three clusters; Thai Rock Wetherill Park, Western Sydney funerals and The Apollo and Thai Rock restaurants in Potts Point. Two new COVID-testing clinics have opened in the city suburbs of Surry Hills and Rushcutters Bay. (Photo by Jenny Evans/Getty Images)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.