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EUR/USD: The market is upward due to vaccine development

EUR/USD: The market is upward due to vaccine development

  • Update Time : Wednesday, November 18, 2020
  • 34 Time View
EUR/USD: Technical Analysis | November 26, 2020
EUR/USD: Technical Analysis | November 26, 2020

MarketDeal24.Com – The EUR/USD pair continues to appreciate despite concerns from central banks. Investors’ eyes are fixed on the corona virus report and the next incentive package.

European Central Bank President Christine Lagarde said news of the corona virus vaccine would not have a major impact on economic growth, although the ECB had already released its 2021 economic forecast and expressed concern about the current corona outbreak.

News of the vaccine has boosted investor sentiment. Pfizer and BioNTech, who first successfully completed Phase 3 trials, have announced that they have gone one step further in getting approval. They will soon apply for emergency use approval, so that they can complete the preparation of the vaccine by December.

In many eurozone countries, corona infections have begun to come under control, leading to the possibility of easing restrictions in various countries.

Lagarde said additional incentives were coming, where Powell said incentives would increase. If the Federal Reserve fails to take any major action, the EUR/USD pair will appreciate further.

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