The cash continues to consolidate in the low 1.08, says Shaun Osborne, Head of Strategy of FX of Scotiabank.
Germany approves spending plans
“EU leaders failed to reach an agreement on an aid package of 5,000 million euros for Ukraine last night, which weighed something in the feeling of the euro. However, the upper house of Germany supported the plans of the new government to drastically increase the expense, sealing the final approval for the aggressive fiscal expansion.”
“The losses of the euro from the middle of the week leave the alfed looking weak, but the support in the low region of 1.08 is maintained and perhaps a clear thrust is needed below 1,0820 to lift the negative momentum. A break down could see the losses of the alleged extend to the area of ​​1,0720/30. (MA of 200 days in 1.0726 currently).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
