Italy reports record virus cases at 37,809 but pace of growth slows

The latest numbers from Italy

This is a record and obviously that's not great news but a week ago, cases were at 31,079. That's a 21.6% rise which isn't great but it's much better than previously when there were a series of 80-100% week-over-week rises.

We saw in the spring that once the pace of virus cases slowed, the market responded. We might be seeing the same in the euro at the moment.

Deaths were at 446 compared to 199 a week ago. That's the usual lag in deaths from cases.