The graph above shows the current pandemic situation around the world as of the morning of June 17.
The left picture clearly shows that the second wave of the pandemic has not ended. The number of new cases has reached a new maximum - approximately 140 thousand new infections per day, and mortality has increased sharply, at about 6 thousand deaths per day (right picture).
Looking at the situation per country, the data reveals that the pandemic in the US has escalated. Infection rate has risen to 25 thousand new cases per day, and the number of deaths have also increased to almost 1,000 per day. The rise may be mainly due to the lifting of quarantine restrictions, in which some citizens still adhere to such measures, while others do not.
In Brazil, the number of new cases have jumped to 37 thousand a day, and deaths have increased to 1,300 per day.
A similar concern is seen in India, as the rise of new cases continue to accelerate, and the number of deaths have now reached 2,000.
As for the global economy, a rapid recovery is being observed, especially in the economies of Europe and the US.
As shown in the S&P 500 daily chart, the US market rose sharply for the second day in a row, due to the strong retail sales report for May. According to the data, sales grew by 17.7%, which won back at least half of the fall recorded in April. Massive assistance to people and business from the US authorities and the Fed seems to have done its job, as demand is now gradually recovering, which will surely be followed by production and employment growth in June-July.
EUR/USD: Attempts of growth has failed for three times already. This suggests that a downward move may occur soon.
Sell the pair from 1.1210 and stop at 1.1255. The target of the downward move is 1.1000.
Buy the pair from 1.1355 and stop at 1.1310. The target of the upward move is 1.1500.
