EUR/USD: Coronavirus clouds imply fresh falls

EUR/USD has failed to recover as the economic fallout from coronavirus worsens. Virus and fiscal stimulus headlines and several data points are of interest, according to Yohay Elam from FXStreet.

Key quotes

“Several countries are also closing borders, with the EU recommending restricting entries and exits from the EU.”  

“Massive spending from governments may boost the euro, but so far, Europe is moving relatively slowly.” 

“The German ZEW Economic Sentiment for March may shed some light on how European businesses see the current situation.” 

“Trump has changed his tone, unwilling to deny the US is suffering a recession and saying that the peak of the crisis may come only in the summer.”

“US Retail Sales figures are due out later but traders may see it as ‘old news’. Nevertheless, it provides a look at consumers before recent developments.”