Update on the coronavirus: since the beginning of the outbreak, the total number of cases recorded is 93 thousand. Positive news: 2/3 of the cases in China have already recovered, and the number of new cases has fallen below 200. As for those who are still sick, China's number is close to South Korea's. Negative news: the spread of the virus around the world is fast. At the moment, there are 12 thousand patients recorded outside of China, and it increases by +20% per day. The coronavirus has affected 67 countries already. Taking into account poor medicine and sanitation, a very dangerous outbreak is happening in Iran, so the country has requested humanitarian assistance for the situation.
US news: Strong US data was released - the number of new jobs increased by 183 thousand in February, and the ISM services sector index came out at a high level of 57. Taking into account the Fed's decision of lowering rates by 0.5% (due to the virus' risk on the economy), US looks strong (although in Seattle, due to the people's excitement on the virus, the people bought not only protective masks, but water, toilet paper and flour as well).
The EUR/USD pair is still at a crossroads:
Wait for the growth and test of 1.1246.
Buy after a rollback.
The material has been provided by InstaForex Company - www.instaforex.com