{"id":105946,"date":"2020-10-19T09:09:15","date_gmt":"2020-10-19T08:09:15","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105946"},"modified":"2020-10-19T11:04:36","modified_gmt":"2020-10-19T10:04:36","slug":"104580-eur-usd-rising-covid-cases-weighs-on-euro","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104580-eur-usd-rising-covid-cases-weighs-on-euro\/","title":{"rendered":"EUR\/USD: Rising Covid Cases Weighs on Euro"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) trades lower as covid cases surge &amp; lockdown restrictions tighten<\/strong><\/li>\n<li><strong>ECB speeches in focus after inflation declines -0.3% YoY in September<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) eases on vaccine optimism<\/strong><\/li>\n<li><strong>US fiscal stimulus optimism helps boost market mood<\/strong><\/li>\n<\/ul>\n<p>After booking steep losses in the previous week, the Euro US Dollar (<a href=\"https:\/\/currencylive.com\/exchange-rate\/\">EUR\/USD<\/a>) exchange rate is extending those losses at the start of the new week. The pair shed -0.9% across the previous week, settling at US$1.1781, towards the lower end of the weekly trading range. At 07:15 UTC, EUR\/USD trades -0.1% at US$1.1711.<\/p>\n<p>Covid cases in Europe keep on rising, unnerving investors. France recorded 30,000 new daily cases over the past 24 hours. Italy became the latest country to tighten lockdown restrictions. With economic growth showing signs of stalling, fears are rising that the recovery will quickly be derailed.<\/p>\n<p>There is no high impacting data due for release today. On Friday Eurozone inflation, as measured by Consumer Prices, declined -0.3% year on year in September, down from -0.2% in August. Meanwhile core inflation slipped to 0.2% year on year down from 0.4%. The data combined with tighter lockdown restrictions is raising concerns that deflationary pressures in the region could pick up.<\/p>\n<p>Attention today will be on a slew of European Central Bank policy maker speeches later today, including ECB President Christine Lagarde. Any clues on monetary policy could drive the Euro.<\/p>\n<p>A weaker US Dollar is offering some support to the pair. The safe haven US Dollar is trading lower as investors look towards risker assets in risk on trading.<\/p>\n<p>News from drug maker Pfizer that a vaccine could be available by the end of the year is boosting risk appetite. Pfizer made the announcement on Friday and lifted spirits after both Johnson &amp; Johnson and Eli Lilly announced earlier last week that their covid vaccination candidate trials had been suspended due to safety concerns.<\/p>\n<p>Adding to the upbeat mood are reports that the US Democrats and Republicans could be closer to an additional stimulus package. Hopes are growing that a deal could still be achieved before the US elections.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Euro (EUR) trades lower as covid cases surge &amp; lockdown restrictions tighten ECB speeches in focus after inflation declines -0.3% YoY in September US Dollar (USD) eases on vaccine optimism US fiscal stimulus optimism helps boost market mood After booking steep losses in the previous week, the Euro US Dollar (EUR\/USD) exchange rate is extending [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4890,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[],"class_list":{"0":"post-105946","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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