Spain's health minister says raises level of coronavirus transmission risk
Forex News

Spain’s health minister says raises level of coronavirus transmission risk

Spain’s health minister has raised the level of coronavirus transmission risk. Salvador Illa confirmed on Monday that the region of Madrid would suspend all school and university activity for two weeks from Wednesday as the authorities raised the level of coronavirus transmission risk.

Key notes

  • Says has suspended all school and university activity in Madrid region.
  • Says measures will be introduced from Tuesday.
  • Says measures will be introduced.

Corrected (official)-Spain’s health minister says measures will be introduced from Wednesday (not Tuesday).

FX implications

The focus is on Italy, although the spread beyond and throughout the eurozone is what the European Central Bank will be addressing at this week’s policy meeting and for which markets are mostly concerned for. The euro could suffer a correction on the outcome of the meeting and experience a sell-off on prospects of a recession in the eurozone. 

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