Euro has a plan. Forecast as of 04.05.2021

Fundamental euro forecast today
Italy, Greece, and Spain are running big budget deficits and planning to spend on a grand scale to revamp their economies. Italian Prime Minister Mario Draghi and other leaders in the region claim that increased investments can give lasting support to growth. If the plan doesn’t work, these countries will be saddled with some of the world’s highest debt ratios, potentially destabilizing the euro-area economy. After all, as long as things go according to the plan, the EURUSD bulls can go ahead.

Although the money from the European Recovery fund is not yet coming, and Brussels is criticized for the slow ratification process, the mechanism is already yielding the results, which is evident from the euro strengthening in April. The European Recovery Fund allowed Italy and other currency bloc members to have a reliable investment plan. Italy will receive €190 billion, including €70 billion in grants. Mario Draghi expects to add another € 60 billion from the local budget. It turns out to be quite a sum, allowing Italians to look to the future with optimism.

Benefactors of European Recovery Fund

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