Monday was a quiet day in the currency market. Because of Columbus Day in the ສະຫະລັດ, banks were closed, so the foreign exchange market did not move much.
But during the US session, the ເອີຣົບ pairs spiked higher briefly. They all reacted to the news that Germany, the biggest ຫະພາບເອີຣົບ economy, will support joint issuance of EU debt to tackle the European ພະລັງງານ ວິກິດການ.
ທ່ານ ກຳ ລັງຊອກຫາຂ່າວໄວ, ຄຳ ແນະ ນຳ ທີ່ຮ້ອນແລະການວິເຄາະຕະຫລາດບໍ? ລົງທະບຽນ ສຳ ລັບຈົດ ໝາຍ ຂ່າວ Invezz, ມື້ນີ້.
So is it now a good time to buy the common currency?
The big news out of Germany led to tighter spreads
The common currency reacted to the news, but the move quickly faded. However, the bond market was much more receptible and properly understood the announcement’s significance.
As a result, the spread between the Italian and German bonds tightened, which is typically good news for the euro. Wider spreads mean a higher borrowing cost, and tighter spreads mean the opposite.