EUR/USD: Bears face paramount hurdle at parity – by pabspiovano EURUSD Currencies Majors
German 10y Bund yields drop to 3-day lows near 1.12%.to struggle around the parity level on Tuesday.EUR/USD sheds ground for the second session in a row and flirts with the crucial parity level for the first time since December 2002, as the sour mood persists among market participants.
In addition, the risk aversion continues to swell in the global markets, adding an extra layer of weakness to the single currency and the rest of the risk galaxy. In the meantime, the price action around the single currency continues to follow increasing speculation of a probable recession in the euro area, dollar dynamics, geopolitical concerns, fragmentation worries and the Fed-ECB divergence.: Germany, EMU ZEW Economic Sentiment – Germany Final Inflation Rate, EMU Industrial Production – EMU Balance of Trade .hiking cycle in July? Asymmetric economic recovery post-pandemic in the euro bloc.
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