EUR/USD has been extending its climbdown as Europe’s vaccination campaign remains sluggish and after data from the European Central Bank showed that the pace of bond-buys remains slow. As economists at Rabobank note, the recovery path is lit but the European Union holds the switch. Key quotes “The Eurozone contracted by 6.8% in 2020. We forecast the Eurozone economy to grow by 4.0% in 2021, followed by 3.6% in 2022. This means we expect the economy to hit its pre-pandemic level mid-2022.” “Based on available information we forecast that the EU recovery fund will lift GDP by 0.5% over this and next year combined. “Economic recovery is very dependent on the roll out of vaccines. The European strategy has not been very successful so far and tensions are rising.” “If it takes a quarter more to largely remove containment measures, i.e. taking it beyond the summer, the recovery to pre-COVID GDP levels could take almost one year longer.” 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 NZD/USD recovers from multi-week lows, up little around 0.7135 amid softer USD FX Street 1 year EUR/USD has been extending its climbdown as Europe's vaccination campaign remains sluggish and after data from the European Central Bank showed that the pace of bond-buys remains slow. As economists at Rabobank note, the recovery path is lit but the European Union holds the switch. Key quotes "The Eurozone contracted by 6.8% in 2020. We forecast the Eurozone economy to grow by 4.0% in 2021, followed by 3.6% in 2022. This means we expect the economy to hit its pre-pandemic level mid-2022." "Based on available information we forecast that the EU recovery fund will lift GDP by 0.5% over this… 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.
