Coronavirus updates from around the world:
The US records a sharp drop in deaths at below 400 per day, which, for a long time, holds a figure above 1,000. New cases also decreased to below 20,000 per day.
Brazil also observed a decrease in the number of new cases per day, from 30 thousand to below 20 thousand, but a slow down or decline will only be confirmed in the data for the upcoming days.
In Russia, the number of new cases is within 8,000 - 9,000 per day, which can be considered low, but the problem is that the number of recoveries is only about 4,000 per day. This suggests that the number of active cases is growing, and by its epidemic state, Russia is not ready to abolish the quarantine restrictions. Moscow and other regions that are weakly affected by the epidemic are the only places legible to such.
The US market: S&P 500 daily chart.
The US labor market is recovering, which is confirmed by its bounce back from the bottom due to the decline in unemployment in May. According to data, employment grew by 2.5 million in May, after collapsing by about 20 million in April. About 7% growth remains before the labor market gets back to its pre-crisis highs.
Nevertheless, wait for a pullback from the highs before opening sell positions as a crisis is still ahead.
With regards to US news, the unrest in the streets of the US is gradually subsiding.
EUR/USD: The trend in the pair is upwards, so open buy positions at the current levels with a stop below 45 points.
You can also wait for a pullback to the level of 1.1200 before opening buy positions.
On Wednesday this week, the Fed will meet and announce its decisions on interest rates, which will most likely be left at 0.125%. Decisions on liquidity will also be announced.
Meanwhile, the weekly report on US unemployment will come out the following day, Thursday, which is also very important for the dynamics of the pair.
