EUR/USD prerssured on the French COVID-19 lockdown news


  • EUR/USD falls to print fresh lows on French lockdown news. 
  • France expected to announce a nationwide lockdown tomorrow to start on Thursday night.

EUR/USD is up against coronavirus pressures which are seeing the pair extend the downside to a fresh low since Wall Street's open to 1.1783.

At the time of writing, the pair is trading at 1.1783 from a high of 1.1797 in early Asia, extending the Wall Street downside from 1.1837. 

In recent trade, the news that the French President Emmanuel Macron is expected to announce a nationwide (degree uncertain) lockdown on Wednesday during a televised address to the nation at 8pm that will start on Thursday night has pressured the single currency. 

The coronavirus has moved the nation to reinstate its COVID-19 state of a health emergency.

The state of health emergency is a legal framework allowing the government to take a stricter line on fighting the spread of infections.

Two thirds of the French population have been placed under a nighttime curfew but the PM is reported to have told union leaders that curfews were not enough to control the surge in infections which on Sunday hit a new record of over 52,000 cases.

But widespread reports on Tuesday evening suggested Macron and the government are in favour of imposing a four-week national lockdown from midnight on Thursday, but with primary schools and public services to remain open.

Bars and restaurants would have to close completely, however. Reports also said secondary schools would also close.

It was not clear if all shops would be allowed to stay open or just those selling essential goods such as groceries, which was the case in spring.

The state of crisis became clear on Tuesday evening when the public health body Santé Publique France reported 523 more Covid-19 related deaths.

That's the highest daily total since April. 

EUR/USD levels

The euro is under pressure as follows:

 

Overview
Today last price 1.1784
Today Daily Change -0.0026
Today Daily Change % -0.22
Today daily open 1.181
 
Trends
Daily SMA20 1.1774
Daily SMA50 1.1797
Daily SMA100 1.1638
Daily SMA200 1.1302
 
Levels
Previous Daily High 1.1862
Previous Daily Low 1.1803
Previous Weekly High 1.1881
Previous Weekly Low 1.1703
Previous Monthly High 1.2011
Previous Monthly Low 1.1612
Daily Fibonacci 38.2% 1.1826
Daily Fibonacci 61.8% 1.1839
Daily Pivot Point S1 1.1788
Daily Pivot Point S2 1.1767
Daily Pivot Point S3 1.173
Daily Pivot Point R1 1.1847
Daily Pivot Point R2 1.1884
Daily Pivot Point R3 1.1905

 

 

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Bulls ready to challenge the 1.2000 barrier

The EUR/USD pair hit 1.1963 last Friday, its highest since September 1, when the pair reached 1.2011, the year’s high. The market’s positive mood is likely to continue in the upcoming days.

EUR/USD News

GBP/USD: Brexit tensions weigh on the pound

The GBP/USD pair closed the week with modest gains around the 1.3000 level, down on Friday for a second consecutive day. GBP/USD is bearish in the near-term and could extend its decline towards 1.3200.

GBP/USD News

Gold tumbles to multi-month lows on risk flows, technical selloff

Gold slumped to its lowest level since early July below $1,780. Gold trades below 200-day SMA for the first time since March. Bearish pressure is likely to remain intact unless XAU/USD breaks above $1,800.

Gold news

Dollar offered ahead of the weekend

Equities are finishing the week on a firm tone, while the US dollar remains heavy. In the Asia Pacific, only Australia and India did not end the week on a firm note.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Forex MAJORS

Cryptocurrencies

Signatures