07.04.2020 EUR/USD Daily Analysis

07.04.2020 EUR/USD Daily Analysis

EUR/USD is trading at $1.0857 as the EUR continues to strengthen against the USD as the daily deaths in Europe seem to be decreasing in the hotshots of the virus (the countries hit the hardest by the virus). Spain and Italy have been the two worst-affected countries in Europe. Spain has more than 135,000 confirmed cases and 13,055 deaths. Italy has a total of 132,547 confirmed cases and 16,523 deaths. Both countries in the past 4 days have reported fewer new cases and deaths, which has given investors hope. Investors await the teleconference that will be held later today among the eurozone finance ministers to discuss strategies for funding the region`s policy response to coronavirus. Spain and Italy have expressed a desire for jointly-issued guaranteed 'coronabonds', which could be rejected by other countries.