{"id":106143,"date":"2020-10-26T21:03:28","date_gmt":"2020-10-26T21:03:28","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106143"},"modified":"2020-10-26T21:03:28","modified_gmt":"2020-10-26T21:03:28","slug":"104643-covid-19-resurgence-weighs-on-euro","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104643-covid-19-resurgence-weighs-on-euro\/","title":{"rendered":"Covid-19 Resurgence Weighs on Euro"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><strong>Risk sentiment deteriorated in Asian session amid tightening lockdown measures in several European countries<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>\u00a0Rising infections intensify the need for additional ECB support.<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>EUR\/USD struggling to break key chart resistance.<\/strong><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Risk sentiment declined through\u00a0 the Asian session as investors digested a record surge of covid infections in the US and\u00a0 Europe.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> The safe haven US Dollar advanced .The risk-sensitive Australian, Norwegian and Canadian Dollars sank versus\u00a0 their major counterparts.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Gold dipped back below $1,900\/oz. Silver tanked\u00a0 almost 2%, despite yields on US 10-year Treasuries sliding 2 basis points lower.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Australia\u2019s ASX 200 and Japan\u2019s Nikkei 225 index traded mildly lower, while China\u2019s A50 index dropped\u00a0 over 2% after a fresh outbreak of asymptomatic Covid-19 cases unnerved investors.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Germany\u2019s IFO Business Climate Index release for October and US new homes sales for September will be in focus.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><strong> Tightening Covid-19 Restrictions to Weigh on Euro<\/strong><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Rising covid cases in several European countries is threatening to derail the bloc\u2019s fragile economic recovery and could hamper the performance of the growth-sensitive Euro.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Italy recorded 21,273 daily Covid-19 infections and imposed the strictest restrictions since lockdown in May. Meanwhile, Spanish Prime Minister Pedro Sanchez announced a national curfew as the 7-day moving average of cases surged past 12,000.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> German Chancellor Angela Merkel and the mayors of Germany\u2019s 11 largest cities agreed to introduce new restrictions for those municipalities deemed by the government as having a \u201chigh concentration\u201d of infections. France registered over 50,000 new daily cases. 70% of intensive-care beds in the Paris region are taken up by coronavirus sufferers.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This sharp rise in cases is expected to pile pressure on the European Central Bank to do more to support the regional economy, particularly as high-frequency and economic data start showing the\u00a0 negative impact of the restrictions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Euro-zone services PMI fell to 46.2 in October, worse that the 47 forecast, while all three mobility metrics \u2013 walking, driving and transit \u2013 continue to slide lower after peaking in early September.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Coronavirus developments will likely dictate the Euro\u2019s path ahead of the ECB\u2019s monetary policy meeting on October 29. Tighter restrictions could intensify the need for additional monetary support and in turn capping the upside of the region\u2019s currency.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Risk sentiment deteriorated in Asian session amid tightening lockdown measures in several European countries \u00a0Rising infections intensify the need for additional ECB support. EUR\/USD struggling to break key chart resistance. Risk sentiment declined through\u00a0 the Asian session as investors digested a record surge of covid infections in the US and\u00a0 Europe. The safe haven US [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5082,"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-106143","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>Covid-19 Resurgence Weighs on Euro - 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\/104643-covid-19-resurgence-weighs-on-euro\/\" \/>\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\\\/104643-covid-19-resurgence-weighs-on-euro\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104643-covid-19-resurgence-weighs-on-euro\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"Covid-19 Resurgence Weighs on Euro\",\"datePublished\":\"2020-10-26T21:03:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104643-covid-19-resurgence-weighs-on-euro\\\/\"},\"wordCount\":364,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104643-covid-19-resurgence-weighs-on-euro\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100751-pound-falls-brexit-fear.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\\\/104643-covid-19-resurgence-weighs-on-euro\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104643-covid-19-resurgence-weighs-on-euro\\\/\",\"name\":\"Covid-19 Resurgence Weighs on Euro - 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