Equities bounce back ahead of ECB meeting
Thursday 10th September 2020There\u2019s been a rebound in risk sentiment which NAB\u2019s Tapas Strickland has been driven by a buy-the-dip mentality, with opinions still divided as to whether tech stocks remain over-valued. Meanwhile the US dollar has fallen again, boosting the Aussie dollar and the Euro. The rising value of the Euro of late will be of particular concern to the ECB which meets later \u2013 higher priced exports could hinder Europe\u2019s recovery. The pound meanwhile is finding it hard to keep up as Brexit uncertainty remains and concerns over rising COVID infections, with new restrictions imposed in the UK today. All that said, the data over the last 24 hours has shown largely positive signs of recovery.
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