Forex Signals – EUR/USD to Snap 2 Week Losing Streak – The euro is on track to snap a two-week losing streak against the dollar, but this is unlikely the start of a trend as the coronavirus impact will leave a bigger economic dent on eurozone than the U.S., Bank of America (NYSE:BAC) said.
The fiscal response from the EU has been hampered by infighting as member states have disagreed on the best way forward to structure a coronavirus relief package. But a Franco-German effort has sparked hopes of a breakthrough after both nations earlier this week agreed a $545 billion pandemic response – Forex Signals – EUR/USD to Snap 2 Week Losing Streak.
China has released its e-Yuan cryptocurrency. According to a press release on the matter, this has brought the attention of investors worldwide, many of which hope that the asset will rival that of Bitcoin or Facebook’s upcoming Libra project.
Some believe that the asset can help with the country’s big debt issue. After all, 2.4 trillion of debt is due to illegal loan practices, and blockchain technology may help that.
On the monetary policy front, meanwhile, minutes of the ECB meeting in April signaled the central bank stands ready to roll out more stimulus, if needed, at its June meeting.