Italy may need new stimulus measures worth EUR30 billion – Il Sole

Dhwani Mehta FXStreet

Citing Italian parliamentary document, Il Sole 24 Ore - an Italian national daily business newspaper, reported on Friday, Italy may need new stimulus measures worth EUR30 billion.

The government has already rolled out EUR25 billion and the additional stimulus package is now being discussed in the parliament.

The additional funds will be needed to pay for welfare measures to help workers and other citizens impacted by the coronavirus pandemic, the paper added.

EUR/USD turns negative amid USD comeback

EUR/USD is extending the retreat from near 200-DMA hurdle at 1.1085, as the bears take back control amid a broad-based US dollar comeback.

At the moment, the main currency pair trades modestly flat at 1.1022, having hit a session low of 1.1009 in the last minutes.

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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