Forex and Cryptocurrency Forecast for April 06 – 10, 2020

<p>First, a review of last week’s events: </p>
<p>- EUR/USD. The German unemployment rate remained unchanged at 5% in March. But the data on the US labor market looks just terrifying: 6.648 million applications for unemployment benefits, this figure has increased by 10 million in two weeks, which is equivalent to 6% of the entire labor force. The number of new jobs created outside the agricultural sector went down: -705K in March instead of +275K in February. Other indicators are no better. It is possible that the unemployment will jump higher than during the great depression. And at the same time, the dollar has been growing all week, taking away more than 350 points from the euro, which indicates that the market was already ready for such a collapse of the US economy and took this into account in its quotes in advance. The dollar was also helped by statements from President Trump and the Saudi Energy Ministry about a possible return to the negotiations in the OPEC+ format and an end to the oi</p>