The euro-dollar exchange rate (EUR/USD) remained stable at the start of the week, after suffering losses of 1. 7% last week, closing Friday at $1,630, about a week minimum of $1,1612. At 07:15 UTC, the EUR/USD trades only a few pips below 1,1627 US dollars.
The euro was under pressure last week and the industry continues to fall against the maximum of its core peers, as investors worry about the growing number of coronavirus infections and the risk posed by the fragile economic recovery.
Last week’s knowledge showed that the commercial activity of hats in the region contracted in September. With the accumulation of covid cases and the arrival of more local locks, the prospects for the block deteriorate. Spain and France are experiencing a strong build-up of infections. Spain recorded 12,272 new cases on Friday, bringing the total to 716,481, the highest number of infections in Europe, while France recorded 14,412 new cases on Saturday, and additional blockade measures are almost certain in the coming days and weeks.
The focus will now be on knowledge of customer confidence tomorrow, which is expected to get worse in the sector but not in the production sector.
The US dollar is slowing against its main competitors, it remains strong against the euro. A greater temperament in the market is holding back demand for the US dollar, a safe haven.
On Friday night, U. S. Treasury Secretary Steve Mnuchin and House of Commons President Nancy Pelosi agreed to resume formal talks on a new fiscal stimulus package for coronaviruses, stimulating optimism in the market. Fears had developed that with the US election in less than two months, either party would have difficulty reaching an agreement on a bailout.
Chinese knowledge of China went overnight. Factory profits increased for the fourth consecutive month, indicating that economic recovery is accelerating in the world’s second-largest economy.