EURUSD Price Rises Modestly as EU Reaches Italian Budget Deal

EURUSD price, news and analysis:

• The EURUSD price is climbing gradually after news that the EU has reached a deal with Italy on the country’s budget, avoiding disciplinary proceedings.
• It has also published its plans to minimize disruption in case of a no-deal Brexit.

EURUSD price edges up on Italian budget agreement

The EURUSD price is continuing its gentle climb after news that the EU has agreed an Italian budget deal that will avoid disciplinary action against Rome. Italy has lowered its headline budget deficit target to 2.04% of output from the 2.4% planned earlier and the EU has approved it despite describing it as “not ideal”.

EURUSD Price Chart, 30-Minute Timeframe (December 14-19, 2018)

Chart by IG (You can click on it for a larger image)

Meanwhile, the EU has also published its contingency plans that would be introduced in the event that it fails to reach an agreement with the UK on Brexit.

“The European Commission has today started implementing its no deal contingency action plan,” the Commission said in a statement, outlining 14 measures to avoid major disruption in areas from citizens’ rights to climate policy. Most areas have time limits on the measures, the statement said.

More to read:

GBPUSD Price Edging Ahead Despite Growing Risk of No-Deal Brexit

Euro: What Every Trader Needs to Know

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--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex