BREAKING: EURUSD drops below 1.08 on EC forecasts

10:53 AM 6 May 2020

EURUSD dropped below 1.08 handle today following release of the newest projections from the European Commission. The forecast points to a 7.7% GDP contraction in 2020 in the whole euro area and 6.5% contraction in Germany alone. Italy and Spain are expected to be the hardest hit with negative growth rates of 9.5 and 9.4% respectively. Earlier in the day, euro slipped on poor Germany factors data and Spanish PMI.

 

 

EURUSD is in a freefall mode today. The pair slumped on EC forecasts and threatened to leave 1.08-1.10 trading range.. Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits