Europe

ECB said that "a swift V-shaped recovery could probably already be ruled out at this stage".

No agreement on economic rebuilding and bad data push EUR to fall.

What mattered last week: An extreme week of volatility as U.S. equity market fell ~15% as the spread of Covid-19 continued. The impact of Covid-19 via border shutdowns, social distancing measures as well as the obvious impact on health impact presents a huge challenge and likely to result in a recession in several countries. Central banks and governments responded by slashing interest rates, resuming/starting Quantitative Easing (QE) programs and boosting/announcing fiscal stimulus packages.

With new Coronavirus cases in Italy, fears are spreading that the virus may move further into Europe.

What mattered last week: The benchmark U.S. stock index, the S&P 500 posted solid gains for a second straight week, shrugging off concerns over the spread of the coronavirus (now named Covid-19). As the market continues to take the view that the hit to growth from Covid-19 in the shape of travel restrictions, factory closures, etc will be temporary.

With today’s price action in Euro and Sterling, the next pair to look at is EUR/GBP.

Today officials from both sides began laying out the groundwork for a new agreement

The aftermath of fresh geopolitical drama is turning out to be muted for global markets

Stock market logic and precedent point to shrugging off Middle East risk, for a spell

Risk assets look unlikely to reclaim their solid advance out of the gates in 2020 anytime soon

Thursday’s stock markets are what it looks like when risk appetite hits the ground running

With USD/CHF on the cusp of a bearish engulfing month, we take a look at the pattern’s forward returns alongside the Swiss franc’s seasonality.

Trade matters, or at least the lack of fresh bad news on them, have eclipsed the ECB’s first policy update under Christine Lagarde

U.S. stocks are set to open slightly higher after futures rose off lows