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The euro at the bottom of 2017


14 February 2020

The euro is rapidly getting cheaper in the forex market to the accompaniment of the ECB's "printing press" and depressing macro-statistics, which showed a record decline in industry in the EU for 10 years.

The ECB’s money issue, which since September last year has been buying assets from the market in the amount of 20 billion euros per month, continues to press on the foreign exchange market.

Until January, this inflow of liquidity was offset by the operations of the Fed, which in the fall - simultaneously with Europe - resumed pumping, but the Fed’s balance has not been growing for six weeks now.

In other words, the euro is becoming more and more on the market, while the dollar mass remains the same. This is what creates the imbalance of foreign exchange flows.

The EU has stalled the main export and industrial engine: in Germany, production volumes have fallen by 7.1%.

The coronavirus epidemic in China, breaking global production chains, will push the euro area's largest economy into recession. There can be no question of any growth in the euro with such macro statistics.

To understand what will happen to the Euro, just remember 2014-2015. Then the launch of the "printing press" of the ECB collapsed the course of the single European currency from 1.4 to 1.03 dollars.

#source

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