EUR/USD, EUR/GBP and EUR/JPY rally on hopes of German €500 billion stimulus package
EUR/USD, EUR/GBP and EUR/JPY rally on hopes of German €500 billion stimulus package which the coalition partners want to pass in the current parliament.
EUR/USD rallies strongly
EUR/USD's break through its major $1.0461 to $1.0533 resistance area is medium-term bullish and has the 200-day simple moving average (SMA) at $1.0721 in its sights.
The euro is bid since Germany's conservative CDU/CSU and the Social Democrats (SPD) agreed to establish a €500 billion infrastructure fund and amend borrowing rules to boost defence spending and stimulate economic growth.
Support can be found in the $1.0533 to $1.0515 support area.
EUR/USD daily chart
EUR/GBP recovers from 3-month low
EUR/GBP rallies from its February £0.8243 low towards the 55-day SMA at £0.8330.
Potential slips may find support around the early February low at £0.8292.
EUR/GBP daily chart
EUR/JPY rallies from near 7-month low
EUR/JPY is rallying from its near 7-month late February ¥154.80 low towards the 55-day SMA at ¥160.55.
Minor support can be found along the breached February-to-March tentative downtrend line at ¥158.22.
EUR/JPY daily chart
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
