From a global perspective, the number of COVID-19 cases being found in Sydney is negligible.
However, Australian authorities are super sensitive to any tick higher in cases.
Sydney reported 5 new cases today (I might be wrong on that exact number, and some add in cases found since the cut off time and what have you, but the key point is it is not large).
Sydney is Australia’s largest population city.
A wider mask mandate has been introduced for the next seven days. Sydney authorities tend to be reluctant to impose restrictive ‘lockdown’ type restrictions.
Meanwhile the vaccination rollout is on the slow side, with much shuffling about on which vaccine to use, and supply issues. Currently Pfizer is recommended for anyone under 60. Pfizer must be brought in from overseas, AZ vaccine is available to over-60s and is produced locally.
Also meanwhile, AUD/USD is down on the session, iron ore in China is lower on the session which is taking some strength from AUD: