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There’s been quite a bit of talk in the media of late about increasing cases in Australia, which has gotten many worried the county will return to lockdowns.
It led to the suspension of flights between Melbourne and Auckland in the middle of negotiations to set up a trans-Tasman bubble. In parallel, risk appetite has taken a turn for the worst.
However, a closer look at the numbers shows that well over 80% of the new cases are concentrated in the state of Victoria. In fact, only one other state – New South Wales – reported cases.
For sure, a hotspot of cases is something to be worried about in terms of potential spreading. But Australia remains largely free of COVID cases, especially in its larger, more commercially relevant regions.
On top of that, the majority of cases have been traced to overseas contagion.
How to Revive Commerce
That last part is a matter of concern for the retail sector in Australia and might keep the AUD under pressure.
If the government is worr...
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