02.06.202014:59 Forex Analysis & Reviews: Trader's diary. June 2, 2020. Covid-19 in Russia. Russian rouble

Exchange Rates 02.06.2020 analysis

This is the chart of the coronavirus cases in Russia as of morning of June 2. The good news is that the number of new cases (+8,000) is less than the number of recovered (+11,000) per day. However, this happened only thanks to Moscow region, where +2,000 people were infected and +6,000 patients recovered per day. Consequently, the number of COVID-19 cases in Russia, excluding Moscow, continues growing and the epidemiological situation is not getting any better.

Apparently, Russia, excluding Moscow, has not yet passed the peak. Accordingly, the epidemiological situation in the country is likely to improve no earlier than July 2 - that is, in a month.

Exchange Rates 02.06.2020 analysis

The Russian rouble continues strengthening.

I believe that this is a false movement caused by the attack of central bank on currency buyers.

The upward trend is likely to last until the vote on constitutional changes - that is, July 1.

It is better to refrain from buying currency for roubles until there is a signal for the movement to stop.

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

Jozef Kovach,
Analytical expert of InstaForex
© 2007-2022
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