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EU “frugal four” countries become potential Euro-killers
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EU “frugal four” countries become potential Euro-killers
It is remarkable that there have been deep divisions in other aspects of trade between the UK and EU, and it is believed that same agreement will not be reached easily next week due to the uncompromising attitudes of both sides.To get more news about WikiFX, you can visit wikifx news official website.
If the negotiation between two sides make a dramatic turn next week, it will contribute to the continuous recovery of the exchange rate of British pound. But, it is estimated that pound may not break through the level of 1.2647.
As for euro, we should focus on whether the€500 billion recovery fund proposed by France and Germany will be passed in the EU summit as Austria, Denmark, the Netherlands and Sweden has rejected it. And these four countries prefer establishing recovery fund by a form of loan. So passing the proposal is a difficult challenge, which results in a more unstable Euro market in the future.The European Central Bank previously made a high-profile statement that some measures should be taken to stimulate the economy in June, including possible easy monetary policy. EUR/USD is expected to rebound, and may not break above the resistance level of 1.1147, with great chance to fall to the level of 1.0767-1.0717 again.
Im concerned that Italy will probably default on its debt in a short term without support, which may result in a worse situation in euro market.Since 1987, Jasper Lo has been engaged in the financial industry (forex, futures and gold) for more than 32 years and holds forex R.O., securities and futures broker licenses. Mr Lo is an expert in trading forex, precious metals and commodity futures and an basic and technical analyst.
Over the years, Mr Lo won many individual and team sales champion awards, as well as outstanding employee awards. He was invited, as a guest mentor, to the University of Hong Kong, Guangdong Ocean University and Guangzhou Jinan University. And he was also appointed as the chief training consultant by Hantang Securities and Dongguan Securities in China.