{"id":105306,"date":"2020-09-25T23:18:14","date_gmt":"2020-09-25T22:18:14","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105306"},"modified":"2020-09-26T09:23:30","modified_gmt":"2020-09-26T08:23:30","slug":"104466-eur-usd-could-drop-further-on-covid-19-second-wave-fears","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104466-eur-usd-could-drop-further-on-covid-19-second-wave-fears\/","title":{"rendered":"EUR\/USD Could Drop Further on Covid-19 Second Wave Fears"},"content":{"rendered":"<ul>\n<li><span style=\"font-weight: 400;\">Rising\u00a0 Covid-19 cases in Europe has dragged on risk sentiment and could continue to weigh on regional risk-sensitive assets.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Widening Italian-German yield spread points to a potential persistent period of risk off coming.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">EUR\/USD looks set to decline after breaking through the neckline of a bearish Head and Shoulders pattern.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Stock indices pushed higher in the Asian session on news that US Democrats are putting together a new $2.4 trillion stimulus bill in an attempt to break the impasse with Republicans. This boosted risk appetite. Australia\u2019s ASX 200 rallied 1.28% and Japan\u2019s Nikkei 225 climbed 0.58%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The safe havens US Dollar and Japanese Yen fell versus their major peers. The risk sensitive\u00a0 Australian Dollar advanced after 5-straight losing sessions, for the first time since March.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gold &amp; US 10-year Treasury yields held steady, while silver slipped 0.2%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Attention will turn to US durable goods orders (August) on an otherwise quiet economic calendar .<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Covid-19 Fears Weighing on EUR\/USD Rates<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The renewed coronavirus restrictions in some European countries is threatening the regions fragile economic recovery and could result in a further selloff of riskier regional assets should the\u00a0 surge in Covid-19 cases continues.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">New daily covid cases in France rose by a record 16,096 on Thursday. hospitals are also filling up with seriously ill Covid-19 patients in Madrid, Spain. It is looking increasingly likely that lockdown restrictions could tighten again soon..<\/span><\/p>\n<p><span style=\"font-weight: 400;\">High-frequency data reveals a slowdown the three mobility metrics \u2013 walking, driving and transit in Germany, Spain, Italy and France, indicating that\u00a0 residents are p scaling back daily activities amid a rising\u00a0 Covid-19 cases\u201d.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Such a notable decline in mobility could hamper the economic recovery the eurozone from the March lows and could weigh on risk sentiment, particularly in light of the IHS Markit Eurozone Composite PMI for (September) revealing that the bloc saw its deepest service sector contraction since May.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The widening of the\u00a0 Italian government bonds and German bunds spread, often considered a risk gauge, appears to have coincided with\u00a0 the EUR\/ USD move southwards and a rise in coronavirus cases.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0local coronavirus developments could drive EUR\/USD\u2019s near term outlook and could see the pair extend current 3 week losses\u00a0 September 1\u2019s yearly high..<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rising\u00a0 Covid-19 cases in Europe has dragged on risk sentiment and could continue to weigh on regional risk-sensitive assets. Widening Italian-German yield spread points to a potential persistent period of risk off coming. EUR\/USD looks set to decline after breaking through the neckline of a bearish Head and Shoulders pattern. Stock indices pushed higher in [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4996,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1395,2412,1398],"class_list":{"0":"post-105306","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-eur","10":"tag-eur-usd","11":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EUR\/USD Could Drop Further on Covid-19 Second Wave Fears - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104466-eur-usd-could-drop-further-on-covid-19-second-wave-fears\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104466-eur-usd-could-drop-further-on-covid-19-second-wave-fears\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104466-eur-usd-could-drop-further-on-covid-19-second-wave-fears\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"EUR\\\/USD Could Drop Further on Covid-19 Second Wave Fears\",\"datePublished\":\"2020-09-25T22:18:14+00:00\",\"dateModified\":\"2020-09-26T08:23:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104466-eur-usd-could-drop-further-on-covid-19-second-wave-fears\\\/\"},\"wordCount\":373,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104466-eur-usd-could-drop-further-on-covid-19-second-wave-fears\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100707-gbp-eur-angela-merkel-resigns.jpg\",\"keywords\":[\"eur\",\"eur\\\/usd\",\"usd\"],\"articleSection\":[\"EUR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104466-eur-usd-could-drop-further-on-covid-19-second-wave-fears\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104466-eur-usd-could-drop-further-on-covid-19-second-wave-fears\\\/\",\"name\":\"EUR\\\/USD Could Drop Further on Covid-19 Second Wave Fears - 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