The epidemic in China remains to be a major nuisance to the markets.
On the morning of February 17, 71 thousand people were infected, 1,770 have died, and 10.6 thousand have recovered. The epidemic is still localized in one province of China, Hubei, and its capital, Wuhan.
Chinese authorities have imposed a death penalty to those who violate the quarantine, cause the virus to spread, and infect other people intentionally.
Chinese authorities also introduced a quarantine for banknotes. New banknotes worth $ 80 billion have been issued, while the potentially infected ones have been sent to quarantine.
Outside of China, the maximum number of infected people does not exceed 1000.
The rate of the increase of the number of cases seems to be decreasing. However, there is no certainty that this decline in the rate of the spread of the virus will continue.
Other than that, everything is calm in the markets. US indices closed the week at historical highs, while oil drew a strong bottom at $ 50. Moreover, it seems that it's not going to fall.
EUR/USD: the euro remains under pressure from the sellers.
It looks very weak, and seems to be ready for a new fall.
Keep selling from 1.0990.
From 1.0900 and above, sales with rebounds to the top are possible.
The correction can reach 1.0945 in the afternoon.
The material has been provided by InstaForex Company - www.instaforex.com