- Analytics
- News and Tools
- Market News
- European session review: EUR sterngthens as Germany and France propose EUR500 bln recovery fund
European session review: EUR sterngthens as Germany and France propose EUR500 bln recovery fund
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 09:00 | Eurozone | Construction Output, y/y | March | 0.2% | -15.4% | |
| 09:00 | Eurozone | ZEW Economic Sentiment | May | 25.2 | 46.0 | |
| 09:00 | Germany | ZEW Survey - Economic Sentiment | May | 28.2 | 32 | 51 |
EUR rose against most other major currencies in the European session on Tuesday after the leaders of France and Germany, Emmanuel Macron and Angela Merkel, proposed the creation of a EUR500 billion recovery fund "to support a sustainable recovery that restores and strengthens growth in the European Union".
According to a joint statement of German Chancellor Angela Merkel and French President Emmanuel Macron, issued on Monday, the fund is meant to be "ambitious, temporary and targeted" financed by money borrowed by the European Commission (EC) on capital markets "on behalf of the European Union" with guarantees from the Member States on favorable terms. The money would be distributed in the coming years as "budgetary expenditure" to the Member States and "the sectors and regions most affected".
The EC's chief Ursula von der Leyen said that the proposal is "constructive" and "acknowledges the scope and the size of the economic challenge that Europe faces". The EC is to present its proposal for the recovery fund next week.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
