- ECB’s President, Christine Lagarde, voiced concerns about the bloc’s economic recovery.
- US Federal Reserve’s Chairman Powell is due to speak about the US economic outlook.
- EUR/USD is bullish, as USD demand remains weak.
The EUR/USD trades around 1.18 as the pair consolidates gains from the previous session.
Mid-European morning EUR/USD eased back to 1.1764 after ECB’s President, Christine Lagarde, voiced concerns over the health of the economic recovery, commenting that a V shaped recovery is instead likely to look much wobblier. Still, EUR/USD recovered quickly heading back towards 1.18.
Negotiations over a US fiscal stimulus package continue between House Speaker Pelosi and Treasury Secretary Mnuchin Talks are reportedly moving slowly..
German August Factory Orders smashed expectations jumping 4.5% month on month- 2.2% on an annual basis. The US trade balance for August posted a deficit of $67.1B, worse than the expected $-66.1B. Looking ahead, US Federal Reserve Chair Jerome Powell will speak about the US economic outlook at the National Association of Business Economics annual meeting.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US 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 Wise 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 currencylive.com do not represent our views.
