TrendsWide
[email protected]
Contact
  • Home
  • News
  • Politics
  • Business
  • National
  • Culture
  • Opinion
  • Lifestyle
  • Sports
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • National
  • Culture
  • Opinion
  • Lifestyle
  • Sports
No Result
View All Result
TrendsWide
No Result
View All Result
Home Economie

EUR/USD wavers as the ECB warns of a double-dip EU recession

souhaib by souhaib
November 27, 2020
in Economie
0
0
SHARES
11
VIEWS
Share on FacebookShare on Twitter


  • The EUR/USD pair is wavering today as investors react to the latest ECB minutes.
  • In the minutes, the ECB warned that the bloc was facing a high likelihood of a double-dip recession.
  • The European Commission will release consumer and business confidence data today.

The EUR/USD is in a tight range as traders reflect on the high likelihood of a double-dip recession in the European Union. The pair is trading at 1.1918, which is its highest level since September 1.

EUR/USD
EUR/USD in a tight range

Double-dip recession

The European Central Bank (ECB) released minutes of the monetary policy meeting held two weeks ago. The minutes showed that the bank was considering adding more stimulus to support the bloc as it goes through its worst phase in decades.


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

ADVERTISEMENT

In the minutes, officials were concerned that the bloc’s economy would be bumpier than initially expected because of the ongoing wave of the virus. In response to the surging cases, many countries, including France, Germany, and Spain, have introduced some limits, including business closures.

The ECB has already done a lot to stimulate the economy. It has reduced interest rates to historic lows and launched an unprecedented 1.35 trillion-euro quantitative easing plan. Further, the bank has provided enough liquidity to help banks accelerate their lending, especially to small businesses. It is also buying bonds from large companies to help keep them afloat.

However, the minutes showed that some economists at the ECB are worried about the impact of additional stimulus. They cited possible non-linearities, side-effects, and diminishing returns as risks to more stimulus. They said:

“With markets having stabilised since the introduction of the pandemic-related monetary policy measures in March, it was noted that additional asset purchases might not have the same impact on financial conditions and real economic activity as they had earlier in the year.”

Later today, the EUR/USD will react to additional consumer and business confidence data from the Eurozone. Economists polled by Reuters expect the data to show that industrial sentiment dropped to -10.5 in November from -9.6 in the previous month.

Similarly, they see services sentiment falling from -11.8 to -15.5 mostly because of the new wave of the virus. For consumers, they expect their confidence will fall to -17.5.

EUR/USD technical outlook

EUR/USD
EUR/USD technical chart

On the four-hour chart, we see that the EUR/USD price has been on an upward trend this month. The pair has jumped from a low of 1.1600 to a high of 1.1940. In the past few weeks, it has formed an ascending channel and is now close to the upper side. The price is also slightly below the upper side of the 20-day Donchian channel.

Therefore, I predict that the pair will continue rising as bulls aim for the upper side of the channel at 1.1940. Do you agree with this thesis?  If you do, you can invest in it with one of the leading forex spread betting brokers.



Source link

ShareTweetPin
Previous Post

Spectators back at Haydock, Kempton, Lingfield and Ludlow next week after relaxation of restrictions

Next Post

Number of far-Right fanatics sent on Government deradicalisation scheme surges 

souhaib

souhaib

Related Posts

Economie

What we know about EVgo’s IPO plans

January 24, 2021
Economie

Mario Gabelli, other fund managers offer top picks for 2021

January 24, 2021
Economie

S&P 500 continues to trade near record levels ahead of earnings reports

January 24, 2021
Next Post

Number of far-Right fanatics sent on Government deradicalisation scheme surges 

Neil Lennon insists he is still the man to lead Celtic despite Sparta Prague drubbing

London police raid closed gym because the OWNER was still using his own facilities during lockdown

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Recommended

Thoroughbred Betting – Professional Horse Racing Tipsters

3 months ago

Arsene Wenger claims Mesut Ozil is being ‘wasted’ at Arsenal

3 months ago

Jon Rahm skips ball across No. 16, makes a hole-in-one

2 months ago

Autumn Nations Cup: Wales 13-24 England

2 months ago

Categories

  • Australia
  • Business
  • Cryptocurrency
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Travel
  • Trending
  • Uncategorized

Topics

bbc bbc health cnn ar business dailymail dailymail australia dailymail heath dailymail money dailymail sport day 7 euronews Health IGN rt arabic usa today usa today money usa today sport Women Fashion
No Result
View All Result

Highlights

The Biden administration pledges to help Saudi Arabia hold accountable those who attack the kingdom

A Star Wars: Knights of the Old Republic Game Is Reportedly In Development Without EA and BioWare

Bewinner 1.25 inch Astronomy Accessory Kit, 1.25″ Plossl Telescope Eyepiece Set with 4mm/10mm/ 25mm Telescope Eyepiece, 2X Barlow Lens w/T Adapter for Astronomy

Armie Hammer ‘practiced tying up women with mannequins’, ex Paige Lorenze says

More than 1,000 people demonstrate against Netanyahu in Jerusalem

What we know about EVgo’s IPO plans

Trending

News

Manchester United 3-2 Liverpool: Bruno Fernandes settles FA Cup thriller

by souhaib
January 24, 2021
0

Bruno Fernandes booked Manchester United an FA Cup fifth-round meeting with West HamBruno Fernandes' superb 78th-minute...

saobaokai Snow Scraper Snow Broom 2 in 1 Car Snow Brush Shovel Removal Brush Winter New Telescopic Snow Shovel Clean Tools

January 24, 2021

Farmer died after being buried alive in tunnel collapse as he tried to rescue his beloved sheep dog

January 24, 2021

The Biden administration pledges to help Saudi Arabia hold accountable those who attack the kingdom

January 24, 2021

A Star Wars: Knights of the Old Republic Game Is Reportedly In Development Without EA and BioWare

January 24, 2021

Follow us on social media:

UK Jobs

Recent News

  • Manchester United 3-2 Liverpool: Bruno Fernandes settles FA Cup thriller
  • saobaokai Snow Scraper Snow Broom 2 in 1 Car Snow Brush Shovel Removal Brush Winter New Telescopic Snow Shovel Clean Tools
  • Farmer died after being buried alive in tunnel collapse as he tried to rescue his beloved sheep dog

Category

  • Australia
  • Business
  • Cryptocurrency
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Travel
  • Trending
  • Uncategorized

Recent News

Manchester United 3-2 Liverpool: Bruno Fernandes settles FA Cup thriller

January 24, 2021

saobaokai Snow Scraper Snow Broom 2 in 1 Car Snow Brush Shovel Removal Brush Winter New Telescopic Snow Shovel Clean Tools

January 24, 2021
  • Contact
  • Terms & Conditions
  • Privacy Policy

© 2020 - TrendsWide

No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 - TrendsWide