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Exchange Rates 08.04.2020 analysis

Coronavirus update: The COVID-19 outbreak in Europe is slowing. In Italy and Spain, the number of new cases has declined sharply. The death toll has fallen to 600-700 cases per day.

The infection rate in the US is still increasing by 8% per day. The total number of coronavirus cases in the US is around 400,000. There are at least 1,000 deaths per day across the country with around 700 deaths in New York.

Despite economic problems in Europe, there have also been contradictions between EU countries on how to support the economy. The meeting is rescheduled for Thursday.

EUR/USD

The euro holds steady.

It is preferable to open sell deals at 1.0765.

Buy deals are at 1.1040

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sam Alan,
Analytical expert
InstaForex Group © 2007-2020
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