The coronavirus epidemic in China remains the main theme and risk for the global economy. On Tuesday morning, the number of identified patients reached 20 thousand (an increase of more than + 10% per day), the number of deaths reached 400 (+ 10% per day). The rate of increase in the number of patients remains very high, and the main question is whether the Chinese authorities will be able to stop the increase in the number of patients before their resources are exhausted - doctors, places in hospitals.
The crisis in China is already affecting the world economy: oil consumption in China fell by a huge 20% due to the virus, and oil dropped to $50 - it is clear that other commodities, metals, etc. will see a decline in demand.
The US market held steady on Friday, but this is temporary.
From other news: ISM Industrial Index in the US rose above 50 in January - for the first time in several months - but this did not have a strong effect amid the virus in China.
EURUSD: The range is narrow, the peak is 1.1100, the bottom is 1.0990.
In case one of the boundaries breaks, we open positions in the direction of the breakout.
In the United States, a contest was held for the nomination of candidates from Democrats - the first nomination. It is interesting that during the first nomination, Joe Biden did not enter the top three candidates - the first three yesterday looked like this: Sanders, Warren, Buttigic - and Biden was only number 5.
Trump, apparently, will confidently beat the impeachment in the Senate, and this story will end. Trump will address Congress.
We are watching the epidemic in China.
