The recent statistics on the coronavirus suggests that there is another surge in the number of new COVID-19 infections around the world, which resulted in new highs in the number of daily incidence. Fortunately, mortality has decreased to 1.5 times lower than the highs recorded in mid-April, which suggests that the lethality of the virus may have decreased, or that treatment techniques may have improved. The danger seems to have objectively decreased, since in April, there were 7.5 thousand deaths per day around the world, with an incidence of 100 thousand per day. Now, in July, deaths are around 5 thousand per day, with an incidence of about 200 thousand per day.
In the United States, daily incidence is at 44.5 thousand, while deaths have decreased to below 300 (the highest record was 2.5 thousand deaths). Nevertheless, there is a slowdown in the figures since a few days ago, the number of new cases was 57 thousand. The states in the South are the ones who have recorded a surge in the number of new infections.
The number of new cases in India is also continuously growing, which is very dangerous.
S&P 500 - The latest data suggests that the US market may again see a jump upwards. It seems that investors are not ready to dump assets, especially since the US economy is emerging from the crisis, having received massive support from the government and the Fed. Growth will surely occur, but from the highs of summer 2020, try to sell positions.
EUR/USD: traders are attempting to increase the value of the euro.
Hold buy positions at 1.1245 to increase the quotes to a value of 1.1500 or above.
If a breakout occurs, buy from 1.1305.
In the case of a complete reversal, sell positions from 1.1185, or from 1.1218
Today at 15:00 (UTC+1), the ISM will release the latest data on the US service sector, which is very important for the EUR/USD pair.
