German Chancellor Merkel and Spanish PM Sanchez to meet next Tuesday for talks

Dhwani Mehta FXStreet

Reuters is out with the latest headlines, citing that the German Chancellor Angela Merkel and Spanish Prime Minister (PM) Pedro Sanchez will meet next Tuesday for talks on the European Union (EU) recovery fund.

The meeting is likely to be held to clear out their positions ahead of the EU Summit on the long-term budget and coronavirus recovery fund on July 17-18.

In the last hour, the European Council President Charles Michel proposed the bloc’s next budget at EU1.074 trillion while maintaining the EUR750 billion proposal for the COVID-19 recovery fund.

EUR/USD challenges 1.1300

The shared currency cheers the above headlines, as EUR/USD challenges highs at 1.1297, up 0.03% on the day.

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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