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New Eurosystem repo

New Eurosystem repo | 26 June 2020

26 June 2020, EUR/USD

New Eurosystem repo

EURUSD trading plan:

New Eurosystem repo facility to provide euro liquidity to non-euro area central banks it will have a positive impact on the cost of the euro. Eurosystem repo facility for central banks introduced as precautionary backstop to address pandemic-related euro liquidity needs outside euro area. Under EUREP, the Eurosystem will provide euro liquidity to a broad set of central banks outside the euro area against adequate collateral, consisting of euro-denominated marketable debt securities issued by euro area central governments and supranational institutions. EUREP complements the ECB’s bilateral swap and repo lines and reflects the importance of the euro in global financial markets.

Trading recommendation: Buy 1.1200 and take profit 1.1255.

David Johnson
Analyst of «FreshForex» company
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