Euro and pound are out for summer

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On Wednesday, the euro was still below $ 1.18 in a market that is concerned and risk-averse. This is due to the increasing incidence of coronavirus infections and the fear that the economic recovery will be more difficult.

That is also the reason for the expected rise in British coronavirus infections, but within the Bank of England the monetary sound has become somewhat milder and that too is depressing sterling’s rate.

For today, we expects little change in the picture and tomorrow too, Thursday, when the European Central Bank comes forward with the interest rate decision, he does not foresee too much impact. We believe that President Christine Lagarde will not make any announcements on Thursday that will set the euro in motion and will maintain monetary policy for a longer term.

Japan showed an export and import in June and again increased by tens of percent. Wednesday’s macroeconomic agenda is empty.

The president of the International Monetary Fund, Kristalina Georgieva, will be the only speaker on Wednesday.

The euro recorded flat on Wednesday at $ 1,776. The European currency also recorded flat at GBP 0.8645 and the pound sterling also recorded unchanged at USD 1.3625 on Wednesday.

About the author

Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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