French FinMin Le Maire: Economy to contract by 11% in 2020

French economy to contract by 11% in 2020, said the country’s Finance Minister Bruno Le Maire on Tuesday.
He said that the “solidarity fund set up to help cafes/restaurants sector will run until end-2020.”
Additional quotes
“Reiterates to announce support plan next week for aeronautics sector and tech start-up sector.”
“French retail sales to start July 15.”
“It is out of the question to hike taxes for households.”
Market reaction
The EUR/USD pair is back on the bid, as the broad US dollar bounce stalls in early Europe. At the press time, the spot trades modestly flat at 1.1135.
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.

















