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John Wang
in
Forex
April 23 18:30

Euro comes into focus ahead of EU council meeting

EU attempts to fix bonds.
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US dollar went down slightly during the early european trading on April 23. Euro might come into focus soon, as EU council is planning to discuss the pandemic’s economic response.
At 06:55 GMT the US Dollar Index was at 100.477, losing 1%. GBP/USD went up 0.2%, reaching 1.2352. EUR/USD trading remained mostly flat, standing at 1.0821. USD/JPY went up 0.1% to 107.81.
Council meeting is not expected to bring any significant news. Charles Michel, President of the European Council, reportedly, will not be attempting to reach an agreement immediately. Earlier finance ministers failed to get a deal concerning the “coronabonds” - the joint debt measure, aimed at refinancing of the group.
On April 22 European Central Bank took some pressure off the Italian credit markets. The institution made the investment grade rating unnecessary for the collateral bonds. Italy’s ability to reconstruct its economy and cover its debts cause some anxiety.