The Euro is advancing versus the US Dollar on Friday, snapping a 3-day losing streak. The Euro US Dollar exchange rate is on the rise as the broader mood in the market improves.

At 07:45 UTC EUR/USD is +1% at US$1.0820. The pair trades at the upper end of its daily range. However, the Euro is still on track for a loss in the region of 2.5% across the week. This would be its second straight week of losses.

Euro Gains As Italy Calls For More Funds

The Euro is trending higher on the final trading day of the week. Sentiment is improving after central banks across the globe showed that they are prepared react rapidly and aggressively to cushion the impact of the coronavirus outbreak on their economies. These actions have provided some respite, improving the mood across the board.

Italy continues to live a nightmare. The number of daily deaths have outpaced those in China. The Italian Prime Minister Giuseppe Conte has called on the EU to do more and to use its powerful credit fund to release lines of credit to all member states. He is referring to the European Stability Mechanism which was created in 2012 during the eurozone sovereign crisis.

Germany producer price data went by unnoticed, declining -0.4% month on month in February. Investors will start to pay more attention to data from March which will reveal the impact of the coronavirus outbreak.

US Dollar Eases Risk Sentiment Lifts

The dollar has surged across the week as fears over the economic impact of coronavirus have seen investors sell out of alomst everything in order to buy into the safe haven dollar. However, today, the improved mood in the market has eased demand for the dollar overnight and in early trade on Friday.

The US Senate is debating a $1 trillion economic stimulus plan aimed to bring direct financial relief to American people and businesses, in a bid to stem the economic fallout from the coronavirus pandemic. Whilst a vote on the economic rescue package could still be days away, the fact it is moving through the relevant processes is helping risk sentiment.

The US economic calendar is light with just February’s new home sales. This is unlikely to catch much attention. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.