EUR/USD has been rallying in response to a new EU fund and hopes for a vaccine. However, premature hopes and Sino-American tensions may trigger a correction, according to FXStreet’s analyst Yohay Elam. Key quotes “German Chancellor Angela Merkel and French President Emmanuel Macron announced a plan to boost the European budget by €500 billion to support the economies. The spread between Italian and German bonds squeezed and the euro rallied.” “Another reason for the rally stems from hopes for a vaccine for COVID-19 from Moderna. The news sent stocks rallying the safe-haven dollar down.” “Investors are currently ignoring Sino-American tensions. Washington and Beijing have squabbled over funding to the World Health Organization, Huawei, and coronavirus..” “Coronavirus cases and deaths have continued dropping in the old continent, which is gradually opening up. However, the most recent figures are probably too low, the result of the weekend effect. Any setback may weigh on the euro.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY: The risk is slowly skewing to the upside FX Street 2 years EUR/USD has been rallying in response to a new EU fund and hopes for a vaccine. However, premature hopes and Sino-American tensions may trigger a correction, according to FXStreet’s analyst Yohay Elam. Key quotes “German Chancellor Angela Merkel and French President Emmanuel Macron announced a plan to boost the European budget by €500 billion to support the economies. The spread between Italian and German bonds squeezed and the euro rallied.” “Another reason for the rally stems from hopes for a vaccine for COVID-19 from Moderna. The news sent stocks rallying the safe-haven dollar down.” “Investors are currently ignoring Sino-American tensions.… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
