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The euro's recovery depends on EU leaders agreeing on a recovery fund, after the frugal four countered a Franco-German proposal for 500 billion euros with loans instead of grants. The European Commission was preparing its own proposal, and the euro had weakened to a three-year low in March.
Analysts said a plan acceptable to all members is needed for the euro to move above 1.10.
A credible EU recovery fund would support the euro against the dollar, which tends to lift dollar-priced commodity values for non-US buyers. Failure to agree would leave the euro vulnerable and the dollar firmer.
za.investing.comMay 26, 2020After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
