Full immediate expensing would lure U.S. firms back from China | Forex Signals by FxPremiere.
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WASHINGTON (Reuters) – White House economic adviser Larry Kudlow on Thursday said one policy that could lure U.S. companies to move back to the United States from China would be 100 percent immediate; Full immediate expensing would lure U.S. firms.
Euro US Dollar (EUR/USD) Exchange Rate Rises as Fed Announces $2.3
The Euro to US Dollar (EUR/USD) exchange rate rose by 0.6% after the US Initial Jobless Claims soared to a worse-than-expected 6.6 million despite lower estimates. This laid bare the coronavirus’ negative impact on the American economy. The pairing is currently trading around $1.093.
The ‘coronabond’ scheme, suggested by Italy, Spain and France, was effectively rejected by northern European states like Germany, Austria and Netherlands. Euro (EUR) traders are becoming increasingly concerned about cohesion with the Eurozone as a north-south divide over a coronavirus rescue plan continues to plague European markets.
EUR/USD Forecast: Could the Single Currency Sink Over Fears of the EU’s Solidarity?
Looking to the week ahead, we could see the US Dollar (USD) continue to remain subdued if Europe’s and China’s coronavirus cases continue to dwindle, as this would boost appetite for riskier assets.
The Euro (EUR) meanwhile could come into some trouble if the Eurozone fails to unify over a rescue plan.
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