5 Reasons Why Euro is Headed Below 1.16

Euro finally broke down on Tuesday as it experienced its strongest one day slide in 3 weeks against the US dollar. We have been calling for a sell-off for days now as the rise in new coronavirus cases pose a major risk to the region’s outlook. France, Germany and Spain all reported significant spikes in cases which we believed would cause significant concern for investors and central bankers. We finally saw evidence of that today with the steep decline in the Eurozone and German ZEW surveys. The German index fell from 77.4 to 56.1 as the “recent sharp rise in COVID-19 cases increased uncertainty about the future … (full story)

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