The report on the coronavirus situation in the world as of May 7: the United States are leading in the number of people infected with the coronavirus. The United Kingdom is experiencing a large number of coronavirus cases due to the delayed introduction of quarantine measures.
The situation in Europe is stable. Except for Italy, the number of deaths in major European countries was less than 300 per day. Meanwhile, deaths from the Covid-19 epidemic in Italy climbed by 369. In the UK, 649 people have died after testing positive for the coronavirus.
The US has recorded a further 2,500 of deaths as a result of the spread of the infection in provinces. A new wave of the disease is expected, if all quarantine measures will be eased. This can be a serious challenge for Trump since the US is handling the outbreak the worst compared to any other country in the world at the moment. Most likely, Trump will not be elected for a second term in November.
EUR/USD: The pair is likely to react to the US labor market data, which is expected to be released today. Yesterday, the ADP Jobs Report showed that the number of unemployed in the US reached 20.2 million. A new weekly unemployment report is expected to be published today. Unemployment in the US is forecast to be 2.9-3.2 million.
The euro dropped and reached the global target at 1.0790.
The price movement will be determined by the unemployment statistics in the US.
It is better to sell the pair from 1.0725.
Buy deals are preferable from 1.1020.
