The pound fell to the lowest level in 2019, eliminating all the growth it has gained after Brexit. According to the market, one of the reasons why the currency declined is that Britain chose a "too soft" quarantine option.
At the same time, oil fell even lower to $26.35.
Although the US market showed a good rebound to the top after its strong two-day fall, the US market has fallen from highs by about 30%.
The US is setting a strong example in the fight against the virus. Trump announced a $1 trillion program to support the economy, where some of it will be sent directly to Americans to maintain demand.
Update on the virus: there are now 200 thousand cases in the world, since the beginning of the pandemic (80 thousand of those have already recovered, mainly in China).
At the moment, the main focus is in Europe, where the increase of patients is still by at least 10% per day. As long as this rate continues, the pandemic will remain as the main factor for the markets.
The situation as of the morning of March 18:
Italy - 31, 500 patients (increases more than 10% per day)
Germany - 9, 400 patients
France - 7,700 patients
Spain - 11,800 patients
Iran - 16,600 patients
US - 6,300 patients
Britain - 2,000 patients
Holland - 1,700 patients
All borders in Europe are now closed.
Finland has also closed its border. Transport links between Russia and Finland have been blocked. The border with Belarus is closed as well.
EUR/USD: the euro is preparing for a new wave of decline.
Keep selling from 1.1053.
Buying is possible in case the pair reverses to 1.1240.
The euro is more likely to fall though.
