French government chief health adviser Jean-François Delfraissy said on Monday that the country's coronavirus situation was becoming increasingly uncontrollable and claimed the actual figure was probably around 100,000 cases per day.
A total of 52,010 new cases of coronavirus have been reported in France in the last 24 hours, making it the highest daily figure ever recorded since the outbreak began in the country.
The positive rate also increased significantly to 17% and claimed the actual figure may be higher than the data shown so far as it is limited by the Covid-19 test capability limit.
Meanwhile in Italy, the government has announced a partial lockdown that will continue in force for one month, until November 24. Spain, meanwhile, approved the emergency and announced a support order from 11.00 pm to 6.00 am to curb the spread.
Although this latest restriction is less stringent than seen in the second quarter, it is expected to have a negative impact on the European Zone economy facing deflationary pressures.
These concerns will certainly push the European Central Bank (ECB) to increase stimulus to reduce its impact on the economy. The ECB policy meeting on Thursday this week, will be the main focus for investors.
According to a recent Goldman Sachs forecast, the central bank is likely to increase its bond purchase program by € 400 billion in December.
At the beginning of the European session, the euro traded lower due to the resurgence of US dollar trading as well as concerns over the impact of the second wave on the European economy.
