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Virus spread in Europe, ease the euro gains - Zeal Capital Market

Virus spread in Europe, ease the euro gains

10-03-2020 08:23

Yesterday Eurozone figures were mixed, with the March Sentix Investor Confidence Index showing a continued recession, suggesting that the epidemic is gradually eroding consumer confidence in the economic outlook, coupled with Italy ’s further travel ban and the adoption of more aggressive epidemic prevention measures, while Germany also reported the first case of death, it is expected that the manufacturing and economic activities of the euro zone may go back to the “winter” again, making the recent rise of the EUR/USD slowing down.

Generally, the market remains pessimistic in the coming weeks, as the epidemic continues and there are no signs of control, leading those risky assets being bearish. At present, investors are expecting that central banks and governments around the world will soon launch stimulus policies to calm the panic financial markets.

Asian stock markets generally rebounded on Tuesday and global bond yields rebounded from record lows. The market sentiment has gradually stabilized, even if it may be short-lived.

The European Central Bank (ECB) is likely to push further stimulus policies this week, which may have a negative impact on the euro.