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This week will offer markets a glimpse whether current expectations for the contraction of Eurozone growth is in line with the incoming data.
Some surveys suggest Eurozone GDP could reach as low as -10% between January and June 2020.
Apart from the economic data, there will also be attention on the upcoming Euro summit where EU finance ministers will discuss the best way forward to combat the current economic slowdown.
According to the Director General of the ESM, the European countries will need another €500 billion in relief on top of the already provided €540 billion in order to fight the downturn.
The outcome of the meeting will be an especially important consideration for countries like Italy, Spain and Greece where the rising debt levels are stoking solvency fears and could be a short-term market-mover for the Euro this week.
This week ahead video will help you prepare for this week’s upcoming events and provide insights into how you could possibly trade it as well.
Highlights of the video:
00:29 – Baseline context for risk sentiment
02:21 – Baseline expectations for the upcoming risk event
05:21 – Possible sentiment shifts
7:33 – Possible currency pairs to consider