Worst of Economic Crisis Over for Eurozone?
The light at the end of the tunnel seems to be visible for the European stock market. Despite the globally increasing cases of COVID-19, it seems the Eurozone is slowly coming back to normal.
The DAX had traded 0.6% higher and France’s CAC increased 1%, while the UK FTSE index had risen an impressive 1.1%.
The positivity had come amid the European Central Bank’s President - Christine Lagarde's speech, stating that the region is “probably past” the worst of the economic crisis caused by the COVID-19 pandemic.
Further, the UK has announced its plan to relax quarantine for international travellers with a certain number of countries, boosting airline stocks of EasyJet, IAG (British Airways owner) and Ryanair, while France and Netherlands have reached a deal on an aid package for their own airline group, giving Air France a much-needed 5% boost.
Logically, EUR/USD has seen another 0.1% increase, having traded at 1.1229.
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