EUR/USD: Absence of unity depresses the shared currency
|EUR/USD kicked off the post-Easter week with optimism about flatter coronavirus curves, but that gave way to losses as the economic damage became prominent. Additional health and financial figures are on the docket now, FXStreet’s analysts Yohay Elam reports.
Key quotes
“The absence of unity is felt on the political level and markets are taking note. The Eurogroup failed to agree on common bonds in a step that mostly hurt debt and disease-stricken Italy. That has weighed on the euro.”
“EU leaders will hold a videoconference on Thursday, trying to sort out a coordinated exit strategy and a recovery plan, where the clash over coronabonds will continue. The euro may suffer. If leaders commit to a package worth more than a trillion euros, perhaps that would help the common currency, but the chances are low.”
“US Weekly Unemployment Claims remain in the limelight, with growing weight for Continuing Claims. It will be interesting to see how many are already unable to return to work. Both numbers will likely be in the millions, pushing the four-week moving average higher.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.