The outlook for EUR/USD has improved after a more upbeat week for the currency that pointed to further modest near-term gains. Shortly after some desperately poor GDP data for the first quarter of this year due to the coronavirus pandemic, and the likelihood that the second quarter will be even worse, the European Central Bank again indicated that it is prepared to do almost anything to ameliorate the economic impact of Covid-19.
That should help offset continued bickering and a notable lack of action by Eurozone governments. The Eurogroup of national finance ministers holds yet another video conference this week, and was urged once more by the ECB to help out, but seems unlikely to do so. Still, expectations are so low that another failure to agree is unlikely to send the Euro lower after its advance this past week.
That should help offset continued bickering and a notable lack of action by Eurozone governments. The Eurogroup of national finance ministers holds yet another video conference this week, and was urged once more by the ECB to help out, but seems unlikely to do so. Still, expectations are so low that another failure to agree is unlikely to send the Euro lower after its advance this past week.