The #euro is 200 pips from the 2016 low.
The story of the day is the major breakdown in the euro.
The big question next is whether 1.0340 holds.
That was the 2016 low and if it breaks, we're back to 2003 levels and the potential for parity.
We remind you that Christine Lagarde will deliver a speech later today.
#EURUSD
The story of the day is the major breakdown in the euro.
The big question next is whether 1.0340 holds.
That was the 2016 low and if it breaks, we're back to 2003 levels and the potential for parity.
We remind you that Christine Lagarde will deliver a speech later today.
#EURUSD
🔹 The #Euro weakened below 1.025%, the lowest level in 20 years, and is on the verge of hitting dollar parity on growing concerns Russia may cut off gas supply to 🇪🇺 Europe and plunge the region into recession, which in turn would make it more difficult for the #ECB to tighten monetary policy.
The key pipeline Nord Stream 1 is set to shut for maintenance on July 11-21 and may not return to full capacity, threatening the bloc's objectives to fill 80% of storage capacity before winter.
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🔹 L'#euro ancora debole, al di sotto di 1,025, il livello più basso degli ultimi 20 anni.
E' sul punto di raggiungere la parità del dollaro a causa delle crescenti preoccupazioni riguardanti il fatto che la Russia possa interrompere la fornitura di gas all'🇪🇺 Europa e far precipitare la regione in recessione.
Tutto ciò, a sua volta, renderebbe più difficile per la #BCE inasprire la politica monetaria.
The key pipeline Nord Stream 1 is set to shut for maintenance on July 11-21 and may not return to full capacity, threatening the bloc's objectives to fill 80% of storage capacity before winter.
————————
🔹 L'#euro ancora debole, al di sotto di 1,025, il livello più basso degli ultimi 20 anni.
E' sul punto di raggiungere la parità del dollaro a causa delle crescenti preoccupazioni riguardanti il fatto che la Russia possa interrompere la fornitura di gas all'🇪🇺 Europa e far precipitare la regione in recessione.
Tutto ciò, a sua volta, renderebbe più difficile per la #BCE inasprire la politica monetaria.
European Stocks Rebound on Wednesday
European equity markets closed mostly higher on Wednesday, with both Germany's #DAX and the benchmark STOXX 600 rebounding more than 1.5% led by an over 3% gain in retail and tech shares.
Investors welcomed the news that a strike was called off by Norwegian oil and gas workers while upbeat factory orders data for Germany and industrial production for Spain also offered some support.
In contrast, retail sales for the #Euro Area disappointed. Still, traders remained cautious ahead of the #FOMC minutes release, and as talks of gas rationing in Europe continue and a political crisis in #Britain just started.
European equity markets closed mostly higher on Wednesday, with both Germany's #DAX and the benchmark STOXX 600 rebounding more than 1.5% led by an over 3% gain in retail and tech shares.
Investors welcomed the news that a strike was called off by Norwegian oil and gas workers while upbeat factory orders data for Germany and industrial production for Spain also offered some support.
In contrast, retail sales for the #Euro Area disappointed. Still, traders remained cautious ahead of the #FOMC minutes release, and as talks of gas rationing in Europe continue and a political crisis in #Britain just started.