EU’s Michel to present long-term EU budget negotiating box to govts in second half of next week – Politico

Dhwani Mehta FXStreet

Citing sources with the knowledge of the matter, Politico reports that the European Council President Charles Michel is expected to present the long-term European Union (EU) budget negotiating box to governments ‘in the second half of next week’.

On Monday, German Chancellor Angela Merkel said that she hoped the EU member states will overcome their differences on a multi-year budget of more than EUR1 trillion ($1.12 trillion) as well as a recovery fund at a summit of leaders later this month.

Market reaction

EUR/USD trades better bid above 1.1250, benefiting from broad US dollar weakness amid pre-NFP caution trading.

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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