ECB’s Panetta: EU recovery fund proposal is considerable step forward

Dhwani Mehta FXStreet

The new European Central Bank (ECB) executive board member Fabio Panetta said on Tuesday, the European Union (EU) recovery fund proposal is a considerable step forward.

Nothing further was reported by the ECB policymaker.

This comes after Germany and France proposed the creation of a fund of 500 billion euros to support the recovery of the EU coronavirus-battered economies.

Meanwhile, EUR/USD holds the lower ground near 1.0970 region, as investors digest the mixed PMI reports from the Euro area economies.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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