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28 Feb 2020

EU's Centeno: Coronavirus is a temporary shock, eurozone is resilient

The coronavirus is a downside risk but it is premature at this stage to evaluate its impact on the eurozone economy, said Chairman of Eurozone finance ministers (Eurogroup) Mario Centeno. "Coronavirus is a temporary shock, the eurozone is resilient and has the means to react."

"We stand ready to act if it becomes a less temporary event," Centeno added. "Sectoral measures to mitigate the impact of coronavirus are always possible."

EUR/USD reaction

The EUR/USD pair largely ignored these comments and was last seen trading at 1.0990, down 0.1% on the day.

Feb 28, 2020

Germany Harmonized Index of Consumer Prices (MoM) above expectations (0.4%) in February: Actual (0.6%)

Germany Harmonized Index of Consumer Prices (MoM) above expectations (0.4%) in February: Actual (0.6%)

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Feb 28, 2020

EUR/USD unfazed by German data, still below 1.1000

After recording fresh 3-week highs in the 1.1050 region during early trade, EUR/USD met some selling pressure and it has now receded to the 1.0990 are

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