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11.03.2020 EURO/USD Analysis
Euro rising by 0.5% as the Financial markets are betting the ECB (European Central Bank) to cut interest rates to minus 0.6% on Thursday - f
Yazar: Zack Smith
Yayınlanma: 12 Mart 2020 01:09
Güncellenme: 18 Eylül 2024 02:31
11.03.2020 EURO/USD Analysis
Euro rising by 0.5% as the Financial markets are betting the ECB (European Central Bank) to cut interest rates to minus 0.6% on Thursday - following the similar cuts by the US Federal Reserve and the Bank of England. Investors shifting their interest to this event for any announcement regarding the battle against the virus, where Christine Lagarde, the president of the ECB (European Central Bank) called for an urgent video conference meeting on Tuesday night, after a member of its staff was diagnosed with COVID-19 and the colleagues who worked with the member will be working from home. The video call was meant to shake the EU leaders of their attitude to the threat of the epidemic causing the economic catastrophe around Europe and make an action, especially with the lockdown in Italy. The conference came after the ECB was preparing for the announcement on Thursday for its monetary policy response who has a huge impact on the EURO, forecasters warning the crisis could drive the EU into recession. The ECB hasn’t made any comments to Ms. Lagarde's call. EUR/USD - Euro US Dollar is going up by 0.56% to reach 1.1343 points after touching 1.1495 points on the 9th of March. On the other hand, the "Green Buck" is not really doing well with the falling U.S equity futures & U.S bond yields. Donald Trump has made an opening bid to Congress to cut payroll taxes until the end of the year by 0%. The plan for a payroll tax cut is to last beyond the November election, for a stimulus package to shield the economy from the coronavirus outbreak. Investors are also expecting the U.S Federal Reserve to cut further interest rates by next week, hoping it could back the dollar back its strength.İLGİLİ HABERLER
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