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Fundamental Forex Analysis

Economy to contract by 11% in 2020

French economy to contract by 11% in 2020, said the country’s Finance Minister Bruno Le Maire on Tuesday.

He said that the “solidarity fund set up to help cafes/restaurants sector will run until end-2020.”

Additional quotes

“Reiterates to announce support plan next week for aeronautics sector and tech start-up sector.”

“French retail sales to start July 15.”

Market reaction

The EUR/USD pair is back on the bid, as the broad US dollar bounce stalls in early Europe. At the press time, the spot trades modestly flat at 1.1135.

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