FOREX TradingCharts.com

Forex News: Euro Lower As Eurogroup Meeting Disappoints

Euro Lower As Eurogroup Meeting Disappoints

04/08/2020 - 08:03:00 (RTTNews)

(RTTNews) - The euro depreciated against its major counterparts in the European session on Wednesday, as Eurozone finance ministers failed to resolve impasse and agree on a package of measures to cushion the economic fallout from the coronavirus outbreak.

Ministers were deadlocked on the issue of coronabonds - jointly issued bonds as part of the crisis response.

While Italy, Spain, France and some other EU states favour common debt issuance, the Netherlands has rejected this idea.

The finance ministers will resume negotiations on Thursday.

European stocks fell after Spain's daily toll of coronavirus deaths rose for the first time in five days and the death toll surpassed 10,000 in France.

The German economy will shrink by nearly 10 percent in the second quarter as the coronavirus paralyses the country, six leading research institutes warned today.

The euro fell to a 2-day low of 1.0551 against the franc, from a high of 1.0568 set at 1:45 am ET. If the euro declines further, 1.02 is likely seen as its next support level.

The euro slipped to 1.0830 against the greenback, after touching as high as 1.0902 at 7:30 pm ET. On the downside, 1.06 is likely seen as its next support level.

The currency moved down to a 2-day low of 0.8791 against the pound, from yesterday's closing value of 0.8828. The euro is poised to find support around the 0.86 level.

The euro retreated to 1.7569 against the aussie, 1.5212 against the loonie and 1.8166 against the kiwi, off its early highs of 1.7758 and 1.5275 and a 2-day high of 1.8302, respectively. The euro is seen challenging suport around 1.61 against the aussie, 1.49 against the loonie and 1.72 against the kiwi.

The euro declined to 117.92 against the yen and held steady thereafter. The pair had ended Tuesday's trading at 118.41.

Looking ahead, at 8:15 am ET, Canada housing starts for March are due.

At 8:30 am ET, Canada building permits for February will be released.

The Fed minutes from the March meeting are set for release in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Euro Little Changed After Eurozone Composite PMI Data (16 min(s), 29 sec(s) ago)
(RTTNews) - At 4.00 am ET Wednesday, IHS Markit has released Eurozone composite PMI data. The euro ...Full Story»

Euro Climbs Ahead Of PMI Reports, German Unemployment Data (37 min(s), 29 sec(s) ago)
(RTTNews) - Services PMI data from Italy and France are due at 3:45 am and 3:50 am ET Wednesday, r ...Full Story»

Australian Dollar Advances As China Service Activity Moves To Expansion (49 min(s), 30 sec(s) ago)
(RTTNews) - The Australian dollar climbed against its major counterparts in the Asian session on W ...Full Story»

Franc Little Changed After Swiss GDP Data (02 hr(s), 25 min(s), 30 sec(s) ago)
(RTTNews) - Following the release of Swiss GDP data for the first quarter at 1:45 am ET Wednesday, ...Full Story»

U.S. Dollar Lower On Recovery Hopes (40 min(s), 30 sec(s) ago)
(RTTNews) - The U.S. dollar depreciated against its most major counterparts in the European sessio ...Full Story»

Pound Little Changed After U.K. Mortgage Approvals Data (16 min(s), 30 sec(s) ago)
(RTTNews) - Following the release of U.K. mortgage approvals data at 4.30 am ET Tuesday, the pound ...Full Story»

Pound Steady Ahead Of U.K. Mortgage Approvals Data (10 min(s), 30 sec(s) ago)
(RTTNews) - At 4.30 am ET Tuesday, the Bank of England is set to issue mortgage approvals data. Ec ...Full Story»

Franc Little Changed After Swiss SVME Manufacturing PMI (46 min(s), 30 sec(s) ago)
(RTTNews) - Following the release of the Swiss SVME manufacturing PMI for May at 3:30 am ET Tuesda ...Full Story»

Search

FOREX NEWS

Euro Little Changed After Eurozone Composite PMI Data

06/03/2020 - 04:02 AM (RTTNews)
(RTTNews) - At 4.00 am ET Wednesday, IHS Markit has released Eurozone composite PMI data. The euro ...Full Story>>

Euro Climbs Ahead Of PMI Reports, German Unemployment Data

06/03/2020 - 03:41 AM (RTTNews)
(RTTNews) - Services PMI data from Italy and France are due at 3:45 am and 3:50 am ET Wednesday, r ...Full Story>>

Australian Dollar Advances As China Service Activity Moves To Expansion

06/03/2020 - 03:27 AM (RTTNews)
(RTTNews) - The Australian dollar climbed against its major counterparts in the Asian session on W ...Full Story>>

Franc Little Changed After Swiss GDP Data

06/03/2020 - 01:52 AM (RTTNews)
(RTTNews) - Following the release of Swiss GDP data for the first quarter at 1:45 am ET Wednesday, ...Full Story>>

U.S. Dollar Lower On Recovery Hopes

06/02/2020 - 06:57 AM (RTTNews)
(RTTNews) - The U.S. dollar depreciated against its most major counterparts in the European sessio ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.