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The eurozone lost 5.1 million jobs throughout the pandemic

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FOREXCOM:EURDKK   Euro / Danish Krone
The previous three months saw employment fall by 2.9 percent, and its official second-quarter GDP figure showed an 11.8 percent decline in the same period. These figures are prompted to push the euro lower against the Danish krone as its 50-day moving average continues to tumble lower than its 200-day moving average counterpart. The European Central Bank had also warned markets about its over inflation in the forex market, which could have been another major driver for its decrease against crown currencies. Consumer price inflation also went lower in August by 0.2 percent, down from the 0.4 increase the month prior. However, it looks like the descent won’t get far – Denmark just surpassed the number of coronavirus infections in the country over Sweden, which could prompt a longer-term weakness for its currency. In the near-term, the euro is projected to fall.
𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐫𝐨𝐤𝐞𝐫𝐚𝐠𝐞 - 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐅𝐨𝐫𝐞𝐱 𝐍𝐞𝐰𝐬 & 𝐅𝐨𝐫𝐞𝐱 𝐁𝐫𝐨𝐤𝐞𝐫𝐬
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