There is a strong correlation between the euro and the Swiss franc (EUR/CHF) currency pair. Find out what it means for forex traders.
The European Commission approved on Thursday Denmark's national plan to recover from the pandemic and make the economy greener and more digitalised, worth 1.5 billion euros. The cash will come from money borrowed by the European Commission on the markets and consist only of grants, to be disbursed in instalments until 2026. The Commission's approval now has to be also endorsed by EU finance ministers in July, allowing for the disbursement of 200 million euros to Denmark in pre-financing for projects envisaged by the scheme.
The Euro has fallen rather hard during the trading session on Thursday as we continue to see negative pressure overall. That being said, the 200 day EMA is coming into the picture.