EU's von der Leyen to hold talks on recovery package on July 8

Dhwani Mehta FXStreet

Reuters is out with the latest headlines, citing that the European Commission President Ursula von der Leyen will hold talks on the European Union (EU) recovery fund on July 8.

Nothing further is reported on the same but the headlines come ahead of the EU leaders’ summit on the long-term budget and recovery package scheduled on July 17 and 18.

Earlier today, Economic Commissioner Paolo Gentiloni urged the hardest-hit states to use EU funds strategically.

Market reaction

The shared currency is seeing a bit of a lift on the above headlines, as EUR/USD climbs back on the 1.13 handle.

Most of the upside in the spot is mainly driven by broad-based US dollar weakness, as markets resort to re-positioning ahead of the key US NFP release.

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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