German Finmin Scholz says Germany to act immediately with all strength on coronavirus
|German Finmin Scholz says Germany to act immediately with all strength on coronavirus.
Market implications
The consensus is that all central banks are headed towards zero due to the coronavirus threat to global economic growth. The market is pricing in one, maybe even two rate cuts from the European Central Bank in the next 12 months. An official press statement released last night suggests imminent policy action. For now, the euro is picking up a bid in the unwind of the carry trade as well as weakness in the US dollar following today's emergence rate cut from the Federal Reserve. On a pullback, 1.1080 and 1.0970 are a focus.
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.