17-18 July EC Summit to discuss EU Recovery Fund and possible agreement between Germany’s Constitutional Court and ECB should support EUR/USD within a 1.12-1.15 range, according to economist at Westpac. Key quotes “A potentially destabilising Eurozone problem might have fallen away now that ECB appears to have provided sufficient transparency on asset purchasing and commitments to adjust assets to be closer to regional proportionality to appease Germany’s Constitutional Court.” “The EC Summit is seen as a critical juncture in the formation of a pan-EU funding mechanism that might draw closer a genuine fiscal union, placating opposition from the Frugal Four and periphery states. How long-term budget contributions are sliced and diced may prove a key means of finding a compromise.” “Until mid-July, the progress of recovery from the lockdown will likely dominate market sentiment. This week’s surge in German retail sales may prove a harbinger of at least near-term consumer activity and so will focus attention on Eurozone retail sales.” “EUR/USD should still find support around 1.1200 before rebounding towards the 1.15 area through July.” 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 Gold Price Analysis: Ready to challenge critical resistance amid Non-Farm Payrolls – Confluence Detector FX Street 3 years 17-18 July EC Summit to discuss EU Recovery Fund and possible agreement between Germany’s Constitutional Court and ECB should support EUR/USD within a 1.12-1.15 range, according to economist at Westpac. Key quotes “A potentially destabilising Eurozone problem might have fallen away now that ECB appears to have provided sufficient transparency on asset purchasing and commitments to adjust assets to be closer to regional proportionality to appease Germany’s Constitutional Court.” “The EC Summit is seen as a critical juncture in the formation of a pan-EU funding mechanism that might draw closer a genuine fiscal union, placating opposition from the Frugal Four… Regulated 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.
