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05.11.202009:10 Forex Analysis & Reviews: Trader's Diary on November 5, 2020. EURUSD and Covid19 anti-records

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Covid19 anti-records

The world registers another COVID-19 anti-records as new cases soared 571,000. The absolute maximum of new cases in the US is 108,000 per day; the maximum deaths in the world is 9,000 per day.

In France, which is the epicenter of the pandemic in Europe, more than 40,000 new cases of COVID-19 are recorded per day.

Several countries in the Eurozone that have re-implemented quarantine measures again start to show obvious economic implications.

EURUSD

The movement of the euro will depend on the outcome of the US elections.

Biden is only a few electoral votes to victory as he takes the lead by 0.6%. It now depends on the outcome of the counting of votes in Nevada. If Biden manages to get 6 electoral votes, America will meet its new president.

You may consider purchases from 1.1770.

The weekly report on US jobless claims is expected today at 13:30 UTC. And the meeting of the Federal Reserve is at 17:00 UTC.

S&P 500 - US market rallies on the first election data on Wednesday - it seems the US market is ready to grow if Biden wins.

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