EURUSD is looking for drivers. Overview for 13.04.2020
The major currency pair is rather neutral at the beginning of a new April week, but the Euro is looking stronger.
The Euro is stable against the USD early in another week of April. The current quote for the instrument is 1.0945.
Today’s economic calendar is empty as most of the Catholic countries still have Easter holidays. It means that it’s high time to analyze what is happening right now and make predictions for the future.
For example, the CBA (Commonwealth Bank of Australia) believes that global economic and monetary measures that should be taken by the Euro Area might quickly set the region’s economy on its feet. Among other things, it includes the ESM: those European countries that suffered most from the coronavirus pandemic and its consequences will get more help with the credit line. It means that there won’t be any problems with liquidity in Europe, so the region’s economies might recover quite quickly.
At the same time, the US Federal Reserve also doesn’t sit idle. Last week, the American regulator announced a program to support small and medium enterprises in the amount of 2.3 trillion USD in addition to other programs announced earlier, such as the QE, low interest rates, and expansion of Dollar liquidity. Moreover, the White House drew attention to the fact the coronavirus outbreak might be slowing down.
In global terms, investors’ sentiment all over the world is getting better, and that’s a good signal for the Euro.