EUR/USD Trading Bearish as Worries of Economic Growth Slowdown in Eurozone Back in Focus - Forex News by FX Leaders
EUR/USD Trading Bearish as Worries of Economic Growth Slowdown in Eurozone Back in Focus

EUR/USD Trading Bearish as Worries of Economic Growth Slowdown in Eurozone Back in Focus

Posted Monday, February 17, 2020 by
Arslan Butt • 1 min read

The Euro has started this week on a bearish footing, weakening against the US dollar early on Monday over rising concerns of economic growth slowing down even further in Europe on account of the coronavirus outbreak. At the time of writing, EUR/USD is trading around 1.083.

Late last week the euro slipped to the weakest level seen in 33 months against the US dollar and has improved slightly since then, but the outlook remains bearish on account of economic growth concerns. German GDP flatlined during Q4 2019, fueling worries about a recession in Eurozone’s largest economy.

While the Eurozone’s economy grew at 0.1% during Q4 2019, coming in line with expectations, industrial production weakened by 2.1% during December, pointing to more weakness in the Eurozone economy as well as currency. EUR/USD is also trading bearish on account of strengthening US dollar over recent strong economic data releases from the US even as the safe haven appeal of the greenback remains strong on account of the coronavirus outbreak.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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