China’s COVID numbers helps boost EURO
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After last week’s 7% drop in GBP vs USD, sterling has managed to find support again
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Now it gets interesting!
"A euro that is too weak would go against our price stability objective." - Francois Villeroy (ECB Governing Council member)
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This week has seen the FED and the Bank of England making terrible movements which backfired
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The market expected 490,000 jobs to be added, but the actual number was 431,000.
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"We're not going to let high inflation become entrenched… (as) the costs of that would be too high." - The Federal Reserve
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As the USD retreats after 3weeks of strength, the key 10yr yield peaked at 1.627% yesterday, but ended at 1.58%. EUR/USD climbed to 1.1650 on this weakness, and GBP/USD sits near 1.3760
Read MoreBilan rassurant pour la zone euro, la BCE apporte son soutien à l'économie européenne. "Le delta inquiète, il faut rester vigilant face à l'épidémie" Kevin Tullett, CEO RedFX
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