Month: September 2022

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

Euro climbed back above the $1 parity level to the dollar yesterday, after hitting a 20-year low of 0.9863 on Tuesday, September 06, getting support from the new hawkish monetary policy stance by ECB to fight inflation which rose to 9,1% in August.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

Euro climbed back above the $1 parity level to the dollar yesterday, after hitting a 20-year low of 0.9863 on Tuesday, September 06, getting support from the new hawkish monetary policy stance by ECB to fight inflation which rose to 9,1% in August.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

Hawkish ECB lifts Euro above $1 parity:

Euro climbed back above the $1 parity level to the dollar yesterday, after hitting a 20-year low of 0.9863 on Tuesday, September 06, getting support from the new hawkish monetary policy stance by ECB to fight inflation which rose to 9,1% in August.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

Hawkish ECB lifts Euro above $1 parity:

Euro climbed back above the $1 parity level to the dollar yesterday, after hitting a 20-year low of 0.9863 on Tuesday, September 06, getting support from the new hawkish monetary policy stance by ECB to fight inflation which rose to 9,1% in August.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

EUR/USD pair, 2-hour chart

Hawkish ECB lifts Euro above $1 parity:

Euro climbed back above the $1 parity level to the dollar yesterday, after hitting a 20-year low of 0.9863 on Tuesday, September 06, getting support from the new hawkish monetary policy stance by ECB to fight inflation which rose to 9,1% in August.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

EUR/USD pair, 2-hour chart

Hawkish ECB lifts Euro above $1 parity:

Euro climbed back above the $1 parity level to the dollar yesterday, after hitting a 20-year low of 0.9863 on Tuesday, September 06, getting support from the new hawkish monetary policy stance by ECB to fight inflation which rose to 9,1% in August.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

EUR/USD pair, 2-hour chart

Hawkish ECB lifts Euro above $1 parity:

Euro climbed back above the $1 parity level to the dollar yesterday, after hitting a 20-year low of 0.9863 on Tuesday, September 06, getting support from the new hawkish monetary policy stance by ECB to fight inflation which rose to 9,1% in August.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

The common currency extended recent gains by 1% on Friday morning, breaking above the $1,01 level following the decision by the European Central Bank to proceed yesterday with a historic interest rate hike by 75 bps to curb the record-high inflation of 9,1% in the Eurozone.

EUR/USD pair, 2-hour chart

Hawkish ECB lifts Euro above $1 parity:

Euro climbed back above the $1 parity level to the dollar yesterday, after hitting a 20-year low of 0.9863 on Tuesday, September 06, getting support from the new hawkish monetary policy stance by ECB to fight inflation which rose to 9,1% in August.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

The common currency extended recent gains by 1% on Friday morning, breaking above the $1,01 level following the decision by the European Central Bank to proceed yesterday with a historic interest rate hike by 75 bps to curb the record-high inflation of 9,1% in the Eurozone.

EUR/USD pair, 2-hour chart

Hawkish ECB lifts Euro above $1 parity:

Euro climbed back above the $1 parity level to the dollar yesterday, after hitting a 20-year low of 0.9863 on Tuesday, September 06, getting support from the new hawkish monetary policy stance by ECB to fight inflation which rose to 9,1% in August.

European Central Bank on Thursday afternoon announced a 75-basis points rise in its three official interest rates, taking its benchmark deposit rate to 0.75%, the refinancing rate to 1.25%, while the overnight lending rate rose to 1.50%, which ends the period of negative interest rates.

The ECB issued a statement after the rate decision saying that it expects to raise rates over the next policy meetings towards levels that will reduce demand in the real economy and bring down the inflation to the ECB’s 2% medium-term target from the current 9,1%.

Hence, the ECB now expects the Eurozone economy to grow only 0.9% in 2023 before accelerating again to 1.9% as it returns to its pre-pandemic trend level, with ECB’s Chair Lagarde saying the bank doesn’t expect a recession, but only an economic slowdown in the next six months.

On top of that, the German Deutsche Bank said this morning that it expects the European Central Bank to deliver another 75-bps supersized interest rate hike in October since the rates are far away from levels appropriate for getting inflation down to 2% of ECB’s target.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

European gas prices spike on Nord Stream shut down:

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

European gas prices spike on Nord Stream shut down:

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

European equity markets also opened the trading week much lower as the escalating energy crisis weighed on the risk appetite for growth-sensitive European assets, with Eurostoxx and French CAC indices falling 2%, while the German Dax was underperforming the market by losing over 3%.

European gas prices spike on Nord Stream shut down:

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

European equity markets also opened the trading week much lower as the escalating energy crisis weighed on the risk appetite for growth-sensitive European assets, with Eurostoxx and French CAC indices falling 2%, while the German Dax was underperforming the market by losing over 3%.

European gas prices spike on Nord Stream shut down:

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

EUR/USD pair, 1-hour chart

European equity markets also opened the trading week much lower as the escalating energy crisis weighed on the risk appetite for growth-sensitive European assets, with Eurostoxx and French CAC indices falling 2%, while the German Dax was underperforming the market by losing over 3%.

European gas prices spike on Nord Stream shut down:

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

EUR/USD pair, 1-hour chart

European equity markets also opened the trading week much lower as the escalating energy crisis weighed on the risk appetite for growth-sensitive European assets, with Eurostoxx and French CAC indices falling 2%, while the German Dax was underperforming the market by losing over 3%.

European gas prices spike on Nord Stream shut down:

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

EUR/USD pair, 1-hour chart

European equity markets also opened the trading week much lower as the escalating energy crisis weighed on the risk appetite for growth-sensitive European assets, with Eurostoxx and French CAC indices falling 2%, while the German Dax was underperforming the market by losing over 3%.

European gas prices spike on Nord Stream shut down:

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

The EUR/USD pair briefly broke below the 20-year low of $0,99 on Monday morning, following the decision of Russia’s Gazprom to delay the reopening of the Nord Stream 1 gas pipeline, at a time, of weaker Eurozone economic activity, and divergent Fed-ECB monetary policies are hammering the common currency and lifting haven dollar.

EUR/USD pair, 1-hour chart

European equity markets also opened the trading week much lower as the escalating energy crisis weighed on the risk appetite for growth-sensitive European assets, with Eurostoxx and French CAC indices falling 2%, while the German Dax was underperforming the market by losing over 3%.

European gas prices spike on Nord Stream shut down:

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

The EUR/USD pair briefly broke below the 20-year low of $0,99 on Monday morning, following the decision of Russia’s Gazprom to delay the reopening of the Nord Stream 1 gas pipeline, at a time, of weaker Eurozone economic activity, and divergent Fed-ECB monetary policies are hammering the common currency and lifting haven dollar.

EUR/USD pair, 1-hour chart

European equity markets also opened the trading week much lower as the escalating energy crisis weighed on the risk appetite for growth-sensitive European assets, with Eurostoxx and French CAC indices falling 2%, while the German Dax was underperforming the market by losing over 3%.

European gas prices spike on Nord Stream shut down:

European natural gas futures Dutch TTF, which reflect the cost of fuel in the wholesale market, surged as much as 35% towards €280/MWh on early Monday morning before retreating to near €260, after Russia shut down natural-gas flows through Nord Steam 1 pipeline, at a time when Europe is scrambling for fuel to get through the winter, threatening to add to economic woes for businesses and households across the continent.

State-controlled Gazprom said late Friday that it found a fault while performing maintenance on the key Nord Stream 1 pipeline, which runs under the Baltic Sea and supplies gas to Germany and other European nations. The pipeline had been due to resume operations on Saturday, following three days of maintenance.

Despite the morning spike, the European gas prices remain below the all-time high of €348 recorded on August 26, 2022, as the contract fell after some countries reported that their gas storages were full by nearly 85%.

Weaker Eurozone fundamentals pressure Euro:

Investors fear that records inflation in the Eurozone will force the ECB to aggressively tighten monetary policy and hike rates that will derail economic growth, adding pressure on EUR/USD pair.

The common currency fell to as low as $0,992 last week after some reports indicated weaker economic activity, with Eurozone August S&P Global manufacturing PMI revising lower by -0.1 to 49.6 from the previously reported 49.7, recording the steepest pace of contraction in 2 years.

Adding to the above, Germany saw its July exports falling by -2.1% m/m, the biggest decline in 4 months, at a time July’s imports also dropped by -1,5% m/m, recording the biggest decline in 6 months, indicating economic destruction in the largest economy in the continent.

Dollar outperforms Euro:

U.S. dollar has been outperforming Euro this year so far due to the flows of safety bets from investors amid growing fears of a global recession, together with the strength received from the Federal Reserve-European Central Bank monetary poly divergence.

Federal Reserve’s aggressive rate hike policy to curb 41-year high inflation lifts the greenback, at a time ECB is reluctant to follow the rates hike pace due to Eurozone’s economic and energy crisis and high sovereign debt.

As a result, the DXY- dollar index on Monday morning rose by +0.50% to above 110 key level, hitting a fresh 20-year high, briefly pushing Euro below the $0,99 key support level.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

The USD/JPY pair is keeping its uptrend momentum towards the ¥140 key level as the dollar is getting support from the growing expectation that the Federal Reserve will hike its interest rate by another 75 bps at the next FOMC meeting on September 21, which would be the third 75bps hike in a row, sending the Fed’s funds rates to near 3%.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

The USD/JPY pair is keeping its uptrend momentum towards the ¥140 key level as the dollar is getting support from the growing expectation that the Federal Reserve will hike its interest rate by another 75 bps at the next FOMC meeting on September 21, which would be the third 75bps hike in a row, sending the Fed’s funds rates to near 3%.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

The monetary policy divergence occurs between the hawkish Federal Reserve and the dovish Bank of Japan, resulting in a further widening of the interest rate differential, which is seen weighing negative on the Yen and increasing the support of the dollar.

The USD/JPY pair is keeping its uptrend momentum towards the ¥140 key level as the dollar is getting support from the growing expectation that the Federal Reserve will hike its interest rate by another 75 bps at the next FOMC meeting on September 21, which would be the third 75bps hike in a row, sending the Fed’s funds rates to near 3%.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

The monetary policy divergence occurs between the hawkish Federal Reserve and the dovish Bank of Japan, resulting in a further widening of the interest rate differential, which is seen weighing negative on the Yen and increasing the support of the dollar.

The USD/JPY pair is keeping its uptrend momentum towards the ¥140 key level as the dollar is getting support from the growing expectation that the Federal Reserve will hike its interest rate by another 75 bps at the next FOMC meeting on September 21, which would be the third 75bps hike in a row, sending the Fed’s funds rates to near 3%.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

USD/JPY pair, Weekly chart

The monetary policy divergence occurs between the hawkish Federal Reserve and the dovish Bank of Japan, resulting in a further widening of the interest rate differential, which is seen weighing negative on the Yen and increasing the support of the dollar.

The USD/JPY pair is keeping its uptrend momentum towards the ¥140 key level as the dollar is getting support from the growing expectation that the Federal Reserve will hike its interest rate by another 75 bps at the next FOMC meeting on September 21, which would be the third 75bps hike in a row, sending the Fed’s funds rates to near 3%.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

USD/JPY pair, Weekly chart

The monetary policy divergence occurs between the hawkish Federal Reserve and the dovish Bank of Japan, resulting in a further widening of the interest rate differential, which is seen weighing negative on the Yen and increasing the support of the dollar.

The USD/JPY pair is keeping its uptrend momentum towards the ¥140 key level as the dollar is getting support from the growing expectation that the Federal Reserve will hike its interest rate by another 75 bps at the next FOMC meeting on September 21, which would be the third 75bps hike in a row, sending the Fed’s funds rates to near 3%.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

USD/JPY pair, Weekly chart

The monetary policy divergence occurs between the hawkish Federal Reserve and the dovish Bank of Japan, resulting in a further widening of the interest rate differential, which is seen weighing negative on the Yen and increasing the support of the dollar.

The USD/JPY pair is keeping its uptrend momentum towards the ¥140 key level as the dollar is getting support from the growing expectation that the Federal Reserve will hike its interest rate by another 75 bps at the next FOMC meeting on September 21, which would be the third 75bps hike in a row, sending the Fed’s funds rates to near 3%.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

The Japanese currency hit a 24-year low of 139,68 against the U.S dollar on Thursday morning as investors bets on higher Fed funds rates at a time the Bank of Japan remains on hold by staying on its dovish monetary path with almost zero interest rates.

USD/JPY pair, Weekly chart

The monetary policy divergence occurs between the hawkish Federal Reserve and the dovish Bank of Japan, resulting in a further widening of the interest rate differential, which is seen weighing negative on the Yen and increasing the support of the dollar.

The USD/JPY pair is keeping its uptrend momentum towards the ¥140 key level as the dollar is getting support from the growing expectation that the Federal Reserve will hike its interest rate by another 75 bps at the next FOMC meeting on September 21, which would be the third 75bps hike in a row, sending the Fed’s funds rates to near 3%.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.

The Japanese currency hit a 24-year low of 139,68 against the U.S dollar on Thursday morning as investors bets on higher Fed funds rates at a time the Bank of Japan remains on hold by staying on its dovish monetary path with almost zero interest rates.

USD/JPY pair, Weekly chart

The monetary policy divergence occurs between the hawkish Federal Reserve and the dovish Bank of Japan, resulting in a further widening of the interest rate differential, which is seen weighing negative on the Yen and increasing the support of the dollar.

The USD/JPY pair is keeping its uptrend momentum towards the ¥140 key level as the dollar is getting support from the growing expectation that the Federal Reserve will hike its interest rate by another 75 bps at the next FOMC meeting on September 21, which would be the third 75bps hike in a row, sending the Fed’s funds rates to near 3%.

As a result of the reluctance of the Bank of Japan to tighten its accommodative monetary policy together with the safety bets on the greenback due to recession fears and the Ukraine war, the USD/JPY pair soared to ¥140 level, nearly 40% off March 09, 2020, the bottom of ¥101.

Despite the weaker Yen giving a boost to Japanese exports, the weakness against the greenback creates problems for the BoJ because it increases the costs of all importing materials, including oil, gas, metals, and food supplies which are denominated on the dollar.