fbpx
gains

EUR Prices Continue to Retreat – September 9th 2020

September 10, 2020

EURUSD is retreating alongside general fleeting from risks. The current quotation is 1.1765.

Capital markets are again turning towards the coronavirus epidemics though they seemed to have got used to it. However, the number of newly diseased worries investors, and they have to account for the risks.

Th European statistics published yesterday turned out to be not very exciting. Another GDP calculation for the II quarter of 2020 reflected a 11.8% q/q decline against the expected -12.1% q/q. As for the y/y decline during the same period, it amounts to 14.7%.

Sure, compared to the preliminary assessments, the revised data turned out to be better. However, the slump still looks the deepest of all times as consumer spending dropped so noticeably.

Just recall that in the Ist quarter, the EU economy dropped by 3.7% q/q (-3.2% y/y).

The employment data of the II quarter revealed a decline by 2.9%, which was a bit worse than expected. In the Ist quarter, the employment rate fell by 0.3%. The current situation has become the worst since 1995 when such data started being collected.

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading.

Don’t miss the latest news and discussion on our Telegram channel. Subscribe today!

Is this article Helpful?

Total Views: 131

Sign up to My Spread

MARKETS UPDATE – September 30th

EQUITIES Europe A positive open on Wall Street encouraged a late rebound in European markets. The dismay many people felt after watching the US presidential debate was manifested in a …

Most Viewed Articles

Most Popular Articles

Technical Analysis

Fibonacci Retracements Analysis for EURUSD & USDJPY September 22

EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the divergence made the pair reverse after testing the resistance at 1.2000 and start a new correction. …

Latest Market Commentary

MARKETS UPDATE – September 30th

EQUITIES Europe A positive open on Wall Street encouraged a late rebound in European markets. The dismay many people felt after watching the US presidential debate was manifested in a …