EURAUD is still trading within huge ranges

The pair is still trading within huge ranges, chopping sideways, with the 50-day and 200-day moving averages converging. The Australian dollar has been on weak footing albeit gaining against other currencies. Its reluctant gains have been due to the raging bushfires ravaging the country. Its domestic confidence has also been hit by forecasts of weaker currency. Climate advocates and activists have also been in a lot of headlines these days. The European Union is planning to dedicate a quarter of its budget to addressing climate change, adding that it would work to shift 1 trillion euros investment toward making the EU’s economy more environmentally friendly over the next 10 years. EU officials have been aiming to deliver European Commission President Ursula von der Leyen’s Green Deal, and they have said that the Europe Investment Plan will have funding from the bloc’s budget and the private sector.