US total coronavirus cases surpass 10 million

A Reuters tally is doing the rounds which are estimating that cases of the novel coronavirus in the United States have surpassed 10 million.

However, this is not new news as according to Worldometer, as of Friday, there were already 10,058,586 confirmed cases of COVID-19 in the US. 

According to the same chart, 242,230 people have died from the virus in the US and 6,391,208 have recovered so far from a population of some 327,200,000.

This, therefore, equates to around 3% of the country that has already been infected and tested positive.

However, the real number is unknown as there will be people that have had the virus and were asymptomatic or were not tested, so that number could be higher.

Nevertheless, the risk of lockdowns is real as the President select has the coronavirus as a number one priority to deal with. 

He is supposed to select a task force as soon as Monday in the US.

“Our work begins with getting Covid under control,” he said in his victory speech. 

“I will spare no effort, none, or any commitment to turn around this pandemic,” Mr. Biden said Saturday.

This has drawn speculation of stricter lockdowns and more stimulus. 

Market implications

Such sentiment can be argued as being US dollar negative and rhymes with the technical picture at this juncture: 

• DXY Price Analysis: Bears in charge eyeing a break of 91 level