The onslaught of the coronavirus seems to be mitigating: In Europe, if not the end of the pandemic, then a significant decrease in the rate of the spread of the virus is clearly observed. The number of new infections in Italy and Spain dropped to +3 to + 5% per day, and the number of deaths fell to +600 to +700 per day.
In US, there's a clear slow down in the rate of the spread of the virus, as the number of new cases in New York has decreased steadily to + 8% per day. Unfortunately, the total number of infected is still huge, with 142.00 in New York and 400,000 across US.
In Russia, as of April 7, there were 7,500 cases and +1,154 new ones. Today, +1,125 is added. It is good that there is no acceleration over the past days. However, the growth rate (+ 15% per day) is still very high.
Update on the markets:
In the previous days, oil grew, due to the huge financial aid packages allocated by the world's main central banks and the governments of US, EU, and Japan to support the economy.
Unfortunately, this growth has run out, so oil declined today, April 8; US indices are also likely to fall today.
Negative news on the Eurozone: The GDP of France fell by 6% per annum in the first quarter. According to the Bank of France, it may decline even further by up to 30% in the second quarter.
The downturn in the economies of Italy and Spain will be even more severe. In Spain, the government has decided to introduce an unconditional basic income to support households.
EUR / USD: On Tuesday, Finance Ministers were not able to come into an agreement regarding the measures that they can implement to support the economy. The demands of the countries from Southern Europe were met with strong resistance from the North, particularly on general debts. The talks will resume on Thursday, but for now, the ECB is bearing the brunt of the bailout.
Euro: Sell from 1.0635.
Buy from 1.1040.
