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The latest data shows that the United States still holds the title of the "highest number of coronavirus cases from around the world". Its daily incidence has leaped again to more than 55 thousand, and deaths have increased to almost 1,000 per day.
Brazil also observes the same situation, with the number of new cases growing to about 50 thousand per day.
India also records a huge number of new infections at more than 23 thousand per day.
Such figures clearly signal that a second wave is transpiring, which could affect and hit again the global economy. Another tough measures may be needed to stop its escalation.
But for now, the global economy is recovering fast, even though the forecasts for the US and Eurozone GDP have worsened.
US market: the increase has halted. We may see a new range in trading, at which from the new highs, we can try selling and buying positions from the 50-day average.
EUR/USD: The key level for today is the level of 1.1240.
If the bears manage to push the quotes below the level of 1.1240, the growth scenario will be canceled. However, the bulls are still actively resisting such a scenario.
Keep buying positions at the level of 1.1245, and stop at 1.1240.
Sell positions at the level of 1.1218.
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