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EU's von der Leyen: Will allocate up to EUR100bln to the hardest hit countries, starting with Italy

European Commission will allocate up to EUR100bln to the hardest-hit countries, starting with Italy, in order to make up for the reduction in wages, said that the Commission President Ursula von der Leyen on Thursday, as cited by Reuters.

On Wednesday, von der Leyen proposed a wage-subsidy scheme to encourage employers to cut workers' hours rather than their jobs amid the coronavirus epidemic.

She said: "Companies are paying salaries to their employees, even if, right now, they are not making money. Europe is now coming to their support. If ... companies run out of work because of a temporary external shock like corona, they should not lay off their workers."

  • EUR/USD technical battles lines to watch ahead of critical US jobless claims – Confluence Detector

NZD/USD faces extra consolidation near term – UOB

The prospects for NZD/USD to reach the 0.6150 region has diminished in favour of extra consolidation, suggested FX Strategists at UOB Group. Key Quote
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EUR/USD: Setting lower lows

The Euro/Dollar four-hour chart is showing that EUR/USD is setting lower lows, forming a downtrend, as FXStreet’s analyst Yohay Elam notes. Key quotes
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