Politico reports on the matter
Meanwhile, France and Germany are said to be putting „heavyweight support“ behind the European Commission’s proposal.

S&P 500 futures up by a little over 0.7%
report
S&P 500 futures are a little over 0.7% higher with Dow futures up by 0.9% currently.
Meanwhile, European indices are also looking a little more perky with most indices holding gains of around 1% at the moment. So far, there aren’t much pessimistic headlines to be dragging risk

Forex news from the European morning session – 19 June 2020
Headlines:
Markets:
– AUD leads, GBP lags on the day
– European equities higher; E-minis up 0.8%

Merkel is said to have warned her fellow leaders in the meeting today
According to officials familiar with her comments, it is said that Merkel has warned other EU leaders that the bloc faces its deepest recession since World War II and that will lead to „very, very difficult times“ ahead.

GBP/USD falls to fresh lows under 1.2400 since 1 June
The pound continues to encounter some heavy selling this week, with the technical exhaustion starting to show after the recent move to 1.2800 last week.

BofA raises its EUR/USD forecast for Q3 to 1.08 from 1.02 previously
The firm’s head of G-10 currency strategy, Athanasios Vamvakidis, said in a note to clients that their forecast may represent some downside but argues that the downside in the pair is likely to be more limited in the near-term.

Forex news from the European trading session – 18 June 2020
Headlines:
Markets:
– JPY leads, GBP lags on the day
– European equities lower; E-minis down 0.5%

Cable rises from 1.2490 to 1.2550 before fading gains at the moment
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A couple of key takeaways from the BOE decision earlier:

The monetary policy summary from the Bank of England – 18 June 2020
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. In that context, its challenge at present is to respond to the severe economic and

BOE announces its latest monetary policy decision – 18 June 2020
– 0.10%
– Bank rate votes 0-0-9 vs 0-0-9 expected
– Asset purchase program total £745 billion (increase of £100 billion)