The NBS has persistently defended the 1.05 EURCHF mark. Conversely, the markets are so sure of this that they jump from this mark.
Germany and France offered a 500 billion aid package for affected EU countries and sectors. Proposals from these the biggest economies in the Euro-region, as a rule, receive approval. This is a good step forward for Union’s economic recovery packages. Apart from this, the German ZEW Institute surprised with robust assessments of business sentiment. In May index was marked by a jump from 28.2 to 51.0 – the highest level in five years. Confident access to positive territory is a harbinger of accelerating economic growth. Appreciate the contrast: the assessment of current conditions is -93.5 with a theoretical minimum of -100. These are the lowest levels since 2003.
The FxPro Analyst Team