Forex and Cryptocurrency Forecast for July 06 – 10, 2020

First, a review of last week’s events: – EUR/USD .  The latest US employment data is not just optimistic, but over-optimistic: approximately 4.8 million people returned to work in June. The unemployment rate fell from 13.3% to 11.1% – the best increase in employment outside the agricultural sector since records began in 1939. So what? Nothing! The market has almost stopped responding to macroeconomic indicators as it has new, outperforming indicators: the number of newly infected COVID-19 and the number of dead from this virus. And here the United States far surpassed both Europe and China. As a result, the American economy is in a vicious circle: the more employment, the more newly opened businesses, the more people went to work, began to visit restaurants, travel by bus and subway, the more … newly infected with the coronavirus. The number of such only on Thursday July 2 was 57 thousand – an increase of almost twice as much as at its peak in April. Things are significantly bet