Ireland's state-run "bad bank" is expected to pay a 1.5 billion euro surplus to the government next year, the second instalment of a total surplus it hopes will top 4 billion euros, Finance Minister Paschal Donohoe said on Thursday. The National Asset Management Agency (NAMA), established in 2009 during a crash that halved Irish property values, used 32 billion euros of debt to rid Ireland's mostly nationalised banks of risky property loans with a face value of 74 billion euros. It paid a 2 billion euro surplus to the state earlier this year that partly offset Ireland's growing budget deficit, which could reach 30 billion euros this year as a result of the economic damage from the COVID-19 crisis.
The Euro rallied a bit during the trading session on Thursday after word got out that people are becoming more optimistic about the Brexit deal.
The next short-term move is likely to be determined by trader reaction to the 50% level at 1.1742 and the Fibonacci level at 1.1773.