Signs have emerged that the COVID-19 pandemic is receding. Even if new cases in the US amounts to 172,000 a day, it is still below the 200,000 peak the authorities recorded before. To add to that, the situation has also stabilized in Europe, thanks to the quarantine restrictions re-introduced in many countries. All in all, global COVID-19 incidence is at 503,000 a day, which is 20% below the peak (660,000).

Another COVID-19 vaccine also came out, but this time from AstraZeneca and Oxford. Their drug has shown an efficiency of at least 90%, which means that the vaccine will also soon go into production, after the approval of authorities.

EUR/USD - yesterday, the euro confused market participants with its sharp climb upwards followed by a strong drain downwards. In essence, the currency has no clear direction yet in the market.

Open long positions from 1.1906.

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