The European Central Bank’s emergency decision on Wednesday to allocate 750 billion euros to support the eurozone government bond market had an effect. The most problematic securities rose – government bonds of Italy and Greece by +2%.
If the EU authorities had been slow then the Italian public debt market could collapse.
However, as you can see on the chart above, while the market believes that the euro is overvalued – the single currency is near this year’s lows at 1.10778.
EURUSD: we hold sales from 1.1053 – it is possible to transfer stops to today’s peak at 1.0983.
The coronavirus is still the main point for the markets.
Nevertheless, there is some stoppage – oil that is likely to stay in the range of $20-25.
Watch.
The material has been provided by InstaForex Company – www.instaforex.com
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