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Euro Forecast: Outlook for EUR/USD Still Bearish
Attachment 39386
- Last week’s video conference of members of the European Council to discuss the EU’s response to the Covid-19 outbreak again highlighted the slow pace and complexity of decision making by the bloc’s leaders.
- Combined with a crash in IHS Markit’s composite purchasing managers’index for the Eurozone in April to 13.5, by far its lowest reading since the survey began in mid-1998, it’s hard to see anything other than a further decline in the Euro.
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Euro Forecast: EUR/USD Outlook Positive
Attachment 39516
The European Central Bank will likely boost its Pandemic Emergency Purchase Program at Thursday’s meeting of its Governing Council; a move that could give the Euro a lift.
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Eurozone Jobless Rate Rises In April
Attachment 39573
The euro area unemployment rate increased in April as member countries implemented coronavirus, or Covid-19, containment measures, data from Eurostat showed Wednesday.
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German Investor Confidence Rises At Record Pace: Ifo
Attachment 39774
Germany's investor confidence rebounded at record rate in June as lockdown restrictions imposed to slow the spread of the coronavirus were eased across Europe, survey data from the ifo institute showed on Wednesday.
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Germany's Inflation Rises Unexpectedly In June
German inflation rose unexpectedly in June from a 45-month low, preliminary data from Destatis revealed Monday.
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Bundesbank Sees German Economic Recovery Continuing In H2 Supported By Stimulus
Germany's economy shrank at a record pace in the second quarter, but recent indicators suggest activity increased significantly in recent weeks and the recovery is likely to continue in the second half of the year supported by the fiscal stimulus, Bundesbank said in its monthly report on Monday.
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Spain Jobless Rate Rises In Q2
Spain's unemployment rate increased for the second straight time as the lockdown to contain the spread of the coronavirus weighed heavily on the labor market, data from the statistical office INE showed Tuesday.
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German business confidence improved for the fourth straight month in August
Attachment 40295
Germany's economy shrank less than initially estimated in the second quarter but the pace of contraction was the sharpest on record as the coronavirus pandemic shattered spending, investment and trade, revised data from Destatis revealed Tuesday. Elsewhere, survey results from the ifo Institute showed that German business confidence improved for the fourth straight month in August.
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Eurozone Consumer Confidence Improves More Than Expected
Attachment 40561
Eurozone consumer confidence rose improved more-than-expected in September to its highest level in six months, preliminary data from the European Commission showed on Tuesday.
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Eurozone Private Sector Stagnates On Virus Resurgence
Following the resurgence of the coronavirus infection rates, the euro area private sector stagnated in September as faster growth in manufacturing was offset by a renewed downturn in the service sector, flash survey data from IHS Markit showed Wednesday. The composite output index declined to 50.1 in September from 51.9 in August. Economists had forecast the reading to drop to 51.7.
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