That ‘s why the euro exchange rate shows little change on Thursday 04/09/20

The euro moved little on Thursday.

The common currency was trading at $ 1.0867 in the morning, slightly higher than the previous day. The European Central Bank (ECB) last set the reference rate on Wednesday afternoon at $ 1.0871 (Tuesday: 1.0885).

A generally friendly mood on the international financial markets supported the euro. According to a good specification from the New York Stock Exchange, Asian equity markets also rose predominantly in the morning. Traditionally safe investment ports on the currency market, such as the Japanese yen, were under pressure.

In the course of trade, further negotiations by the EU finance ministers on a multi-billion rescue package for workers, companies and indebted countries in the fight against the consequences of the corona crisis are the focus of interest. The ministers had already negotiated the night from Tuesday to Wednesday, but then had to adjourn without a solution.

The Norwegian krone was one of the winners on the foreign exchange market, and it rose against all major currencies. Investors are hoping for a cut in oil production from key oil countries, which could lead to a recovery in oil prices. During the day, the oil cartel Opec wants to negotiate with its cooperation partners (“Opec +”) in a video conference about a reduction in the production volume. The oil price plays an important role in the development of the Norwegian economy.

/ jkr / ssc / stk


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