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- European session review: EUR depreciates as short-term outlook darkens for EU's economy
European session review: EUR depreciates as short-term outlook darkens for EU's economy
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 08:30 | United Kingdom | Net Lending to Individuals, bln | February | 2.6 | 4.9 | |
| 08:30 | United Kingdom | Consumer credit, mln | February | -2.65 | -1.25 | -1.246 |
| 08:30 | United Kingdom | Mortgage Approvals | February | 97.35 | 95 | 87.7 |
EUR fell against its major counterparts in the European session on Monday as an imposition of new coronavirus curbs to stem the latest wave of infections across the EU and a slower-than-expected pace of vaccinations darkened a short-term outlook for the European's economy. The latest positioning data indicated that investors remain heavily long on the EUR.
In addition, market sentiment was dented by reports that Europe's Credit Suisse (CS) and Japan's Nomura (NMR) could see "significant and material" losses this quarter due to forced selling of shares last week linked to a struggling U.S.-based hedge fund Archegos Capital.
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