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Europe’s Energy Crisis Worsens, EURUSD Weakens

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The dollar was supported and rose to 109.11 as Fed officials reiterated their aggressive monetary tightening stance, while EURUSD fell below parity to around 0.9940. Combined with the fact that Russia’s main natural gas pipeline to Europe will stop supplying gas for three days at the end of this month, the energy crisis continues to hit the euro. If the energy crisis continues to intensify, coupled with the United States and Europe raising interest rates to curb inflation will weaken the global economy, EURUSD may continue to fluctuate and declines.

Trends in EURUSD can pay attention to…
-Latest news on the Russian-Ukrainian war
-21:45 US Markit Manufacturing & Services PMI Initial Value (August)
-20:30 US Durable Goods Orders (MoM) (July)
-22:00 US Existing Home Contracted Sales Index (MoM) (July)
-20:30 US Unemployment Claims for the week ending 8/20
-20:30 US Core PCE Price Index (YoY) (July)
-22:00 University of Michigan Consumer Confidence Index Final Value (August)
Which will affect the trend in EURUSD. Investors must grasp the opportunity to make an order.
Daily Focus allows you to understand the EURUSD markets, increase profit opportunities, and immediately seize the opportunities>>>

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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.

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