Germany’s Altmaier: We cannot allow coronavirus to infect economic upturn

In an interview with ARD public broadcaster on Monday, the German Economy Minister Peter Altmaier said Germany must not allow the coronavirus outbreak to infect its economic growth.

When asked about the economic stimulus proposals by Finance Minister Olaf Scholz, he suggested tax incentives and enhanced write-down measures for companies.

• French FinMin Le Maire: Coronavirus economic impact will be much bigger than the 0.1% forecast initially

EUR/USD keeps gains around 1.1050

Amid a potential coordinated global policy action, the dollar remains in the dumps, offering support to the EUR/USD pair, as it looks to regain the 1.1100 mark in the near-term.

However, the risk recovery is likely to keep the bulls yearning for more ahead of the Euro area PMI reports.