28.05.2020 EURO/USD Daily Analysis

28.05.2020 EURO/USD Daily Analysis

European stock arises on Thursday morning; policymaker’s plans inject more stimulus to aid the region’s battered economies as they open slowly. Dax in Germany traded at 0.7% higher, France’s CAC 40 rises 0.8% as UK’s FTES index increase by 0.7 The EU Commission published plans for a European recovery fund on Wednesdays which exceeding expectation as it offered up 250 billion Euros in loans on top of the 500 billion in grants which were originally added in the German-Proposal last week This recovery fund was laid bare by the IFO institute at the early hours of today as it states in its update that the German economy, the region’s powerhouse is likely to decrease by 6.6% this year due to the adverse effect of the COVID 19 crisis. EURO/USD trading at 1.1003 flat.