EURUSD continues falling slowly as the markets remain unstable. The major currency pair is falling deeper. The current quote for the instrument is 1.1787. The demand for “safe haven” assets, including the USD, is coming in full force at the time of the global market disbalance and massive escape from risks by investors.
The key reason for concerns right now is the delta variant of the COVID-19, which fuels an alarming rise in new cases all around the world. The number of new cases in the USA increased by 70% over a week, while the death rate expanded by 26%. The outbreaks have been observed in areas with small numbers of the vaccinated population and this fact only makes things worse.
It has been observed that the delta variant of the COVID-19 has a surge in deaths, which means that social restrictions that were removed a not long time ago may return pretty soon. Of course, it’s not good news for capital markets. Today, the USA is starting to publish some interesting statistics. For example, reports on the Building Permits and the Housing Starts for June, which are both expected to improve a bit. In general, there won’t be a lot of numbers this week that ay significantly influences the behaviour of major currencies, that’s why investors’ attention will be kept on fundamental factors.