While the downside risk for EUR has eased there is a big test for it ahead

Author: Eamonn Sheridan | Category: News

A heads up to the EU Leader's Summit in Brussels coming up, markets will be keenly focused on the EU Recovery Fund discussions.

Via MUFG, in brief:
  • downside risks for the euro continue to ease
  • continuation of ECB support for the economic recovery and for the euro-zone debt markets is important for improving confidence in euro-zone assets and the euro
  • next key test for the euro will be next week's EU Leader's Summit on 17th and 18th July in Brussels
  • discussions will focus on the EU Recovery Fund 
ICYMI, the EU Recovery Fund 
  • financing totalling up to EUR750 bn, split between grants of EUR500 billion and loans of EUR250 billion
  • Netherlands, Austria Denmark and Sweden want to reduce the amount of funds distributed as grants

For bank trade ideas, check out eFX Plus
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose