EUR/USD Whipsaws as Germany Mulls U-Turn on Fiscal Stimulus - US Market Open

MARKET DEVELOPMENT – EUR/USD Recovers as Germany Mulls U-Turn on Fiscal Stimulus

市场发展 - 随着德国在财政刺激措施上实现大转弯，欧元兑美元复苏

DailyFX 2019 FX Trading Forecasts

DailyFX 2019外汇交易预测

AUD: Once again, another stronger than expected Yuan fix by the PBoC has helped stabilise markets with the Aussie the notable outperformer. Alongside this, better than expected Chinese trade data has also underpinned the currency, which hovers around intra-day highs against the greenback.

澳元：再次强于中国人民银行预期的人民币汇率有助于稳定市场，澳元是表现出色的表现。除此之外，好于预期的中国贸易数据也支撑了该货币，该货币在美元兑日元的高点附近徘徊。

• Chinese Trade balance $45bln vs. Exp. $40bln.

  中国贸易平衡45亿美元与Exp。 $ 40bln。

EUR: Renewed tensions with Italys ruling coalition has taken the recent shine off the Euro. Italian 10yr BTP yields have jumped over 14bps with the Bund-BTP spread wider by 10bps as risks are rising for a potential snap election in Italy. Alongside this, given the tensions, the League party has stated that the only alternative to the current government is new elections. Latest opinion polling in Italy: League party (38%), PD (22%), 5 Star Party (17%).

欧元：与意大利执政联盟再度紧张关系已经取消了最近的关闭欧元。意大利10月BTP收益率跃升超过14个基点，外滩BTP利差扩大10个基点，因为意大利潜在大选的风险正在上升。除此之外，鉴于紧张局势，联盟党已经表示，现任政府的唯一选择是新选举。意大利最新民意调查：联盟党（38％），民主党（22％），五星党（17％）。

However, at the time of writing the Euro has made a sharp retracement from its earlier losses following reports that Germany could make a U-turn on its fiscal stance by potentially issuing new debt to finance a climate protection package. Subsequently, EURGBP has continued to edge higher, hitting its highest level since August 2017

然而，在撰写本报告时，欧元已经此前有报道称德国可能通过发行新债以资助气候保护一揽子计划，从而对其财政状况进行大转弯，从之前的亏损中做出了大幅回撤。随后，EURGBP继续走高，触及2017年8月以来的最高水平

Source: DailyFX, Thomson Reuters

来源：DailyFX，汤森路透

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