As per the ADP report, the US unemployment reached to 20.2 million for the private sector for the end of March and April, this is also the first report to include a crisis month. It is important whether the weekly increase in unemployment starts to decline noticeably like what happened last week with an interesting trend. Nevertheless, we still expect the unemployment rate in the US to grow at 16%.
Furthermore, the current situation with the epidemic in the United States does not yet give us a concrete idea whether the epidemic starts to decline. According to recent reports, the number of deaths in the United States has again risen to almost 2,500 per day.
EURUSD:
The euro freezed after the US ADP report.
Prepare to sell from 1.0725.
Buy from 1.1020.
