The markets seem to have acquired some immunity from the coronavirus epidemic in China. Perhaps, it is because the epidemic is still being contained within the country. However, we must understand that if the epidemic covers all of China, the consequences for the Chinese economy, as well as the world, will be very severe.
As of the morning of February 7, 31 thousand people are listed as infected (an increase of + 20% per day); while 636 people are dead (an increase of +20%).
This means that the rate of the spread is not reduced.
Meanwhile, US indices closed at the highs, and oil bounced up from $ 50.
EUR/USD: Today, the US employment report for January (nonfarm) will be released.
Last Wednesday, the employment report from ADP was released, and it showed an unexpectedly very high figure of +290 K.
With that, let's see if the employment growth is confirmed.
On Thursday, the euro broke down the strong support of 1.0990, however, the decline was very little.
You can sell from 1.0990, but stop at 1.1035.
Follow the closing of the day.
In case of a full rebound, buy from 1.1100.
