Senior EU Official: To publish compromise EU budget, recovery fund proposal next week

Dhwani Mehta FXStreet

The European Union (EU) will publish a compromise proposal on the budget and recovery fund next, Reuters and Bloomberg reported, citing a senior EU official.

This comes after Politico cited earlier today that the European Council President Charles Michel is likely to table the long-term budget negotiating box to governments ‘in the second half of next week’.

The momentum around the EU budget and coronavirus recovery package is gaining steam, with European Commission President Ursula von der Leyen said to hold talks on the recovery fund on July 8.

EUR/USD fades an uptick above 1.1300

Despite the EUR-positive headlines, EUR/USD failed to sustain its attempt above 1.1300. as the bulls turn cautious ahead of the key US NFP data.

At the press time, the spot adds 0.32% and trades at 1.1284.

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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