Energy Crisis + Economic Recession Worries In EU, EURUSD Might Face The Suppression
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Russia may completely cut off its natural gas supply to Europe, exacerbating the European energy crisis; according to the final value of the Eurozone’s July Markit manufacturing PMI released on Monday, the Eurozone’s manufacturing industry is falling into a downturn, aggravating the market’s concern that the European economy has fallen into recession. Worries about this may continue to weigh on the euro. In addition, many Fed officials have said that there may be more interest rate hikes in the short term, which will boost the dollar strong, EURUSD may continue to decline.
Trends in EURUSD can pay attention to…
-Latest news on the Russian-Ukrainian war
-16:00 Eurozone Services PMI final value (July)
-17:00 Eurozone PPI (MoM) (June)
-21:45 US Markit Services PMI Final Value (July)
-22:00 US ISM Non-Manufacturing PMI (July)
– 20:30 US Unemployment Claims for the week ending 7/30
-20:30 US Unemployment Rate (July)
-20:30 US Non-Farm Payroll (July)
Which will affect the trend in EURUSD. Investors must grasp the opportunity to make an order.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.