Here is the chart of active coronavirus cases in Moscow. The number of new cases decreased by another 3,000 to 86,000. Sergey Sobyanin, the current Mayor of Moscow, unexpectedly lifted practically all quarantine restrictions in Moscow. This is a controversial move as it may cause a new wave of the epidemic in the city. It is clear that in such a case, Sobyanin may lose his position.
This is the chart of active coronavirus cases in Russia, including Moscow. In total there are 237,000 infection cases in the country as of June 9. The number of new cases has dropped by 3,000 in the last 24 hours. Comparing both charts, we can see that in both cases the number of recovered patients is higher than new cases by 3,000. Alas, this indicates a heavy load on hospitals across Russia, excluding Moscow. As of June 9, the load on hospitals is extremely high. Moscow clearly shows that the pandemic is loosening its grip. However, Sergey Sobyanin's decision to ease quarantine restriction may cause a new wave of the epidemic. Meanwhile, the rest of Russia is at the peak of the epidemic.
Russian rouble: Yesterday, we considered buying the dollar/euro for roubles. At the moment, our buy deals are in positive territory. In the long term, the rouble has very little chance of staying at current levels. The US market is likely to go down. Consequently, oil prices will fall. In the light of a slump in demand and decline in production, the Russian government will have to stimulate the economy by injecting money.
EURUSD
The Fed's meeting, which is going to take place on June 10, is expected.
Hold you buy deals either from 1.1160-1.1200 or on a breakout at 1.1320.
