09.04.2020 EUR/USD Daily Analysis

09.04.2020 EUR/USD Daily Analysis

EUR/USD is trading at  $1.0869 as the EUR strengthens in hopes of the EU finance ministers agreeing on a deal. Investors expect the EU finance ministers to come to a decision today on a coronavirus economic rescue package. German Economy Minister Peter Altmaier said, "I expect European Union finance ministers meeting later on Thursday to make progress towards agreeing a 500 billion euro ($543.20 billion) coronavirus economic rescue package." This meeting started on Tuesday and lasted for 16 hours into Wednesday morning and the finance ministers failed to reach an agreement. The video conference is set to reconvene this afternoon.  Minister Peter Altmaier also said,  "It's important that we make this decision today on the 500 billion euros that are in discussion. That's an incredibly large sum of money that we could use to help a lot of people, especially in the hardest-hit countries, Spain and Italy."