A report on the coronavirus as of the morning of May 14:
The virus is already subsiding in the United States, but very slowly and sluggishly. Infection rate is still high, above 20 thousand new cases per day, and the number of deaths per day is above 1,500. Although the decrease is slow, it is still in fact, decreasing, which is a good thing. The US urgently needs to open its economy, as finances have already been heavily overloaded by the crisis, but the situation with the pandemic hinders it. A similar situation can be seen in Britain, where the number of new cases is above 3,000 per day.
In Europe, Russia now records about 10 thousand new cases per day, and has already overtaken Italy and Britain in the total number of infected people. At such a pace, Russia may overtake Spain in 4 days and become second in the world with the highest number of cases after the United States. Western media claims that coronavirus data in Russia, such as the number of fatalities, are very underestimated, but Russian authorities require refutations.
S&P 500: The US market fell for the second day in a row.
The speech of Fed Chairman Jerome Powell sobered investors, and many began to realize that the current crisis in the economy is not an easy walk. Powell said that in March and April, 40% of Americans, whose income does not exceed $ 40 thousand dollars a year, lost their jobs. Because of the aid given to the public, the budget deficit is now above $ 700 billion.
A further drop in the US market is expected. US indices can be sold.
EUR/USD: The weekly report on US unemployment will be published today at 13:30 (UTC+1). A drop in the figure is expected.
Open buy positions from 1.0825.
In case of a reversal, open buy positions from 1.0900.
