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EUR/USD under pressure amid coronavirus concerns

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The Forex Attack Team researches and publishes thought-provoking news, analysis, and opinion pieces on the global financial markets. We provide in-depth coverage of forex, commodities, and indices.

Heading into a long holiday weekend in the United Sates, the Euro is struggling to top 1.125. This comes among Coronavirus cases surging in the US, Brazil, and parts of Europe. At the time of this writing, the EUR/USD pair is nearly flat at +0.03% with just over 6 hours left until markets close. The daily ATR sits at levels not seen since early June.

With the COVID-19 situation looking dire in Texas and Florida, more than 20 US states are rolling back reopening plans. And many are requiring new face covering and social distancing measures. Placing new pressure on the already ailing US economy. This week Bloomberg reported that while the US is seeing some job recovery, the permanent job loss numbers are at record levels. As fresh waves of the virus sweep across the nation, it’s likely that those numbers will climb even higher over the next several months.

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