The $EURUSD price came under intense pressure as investors reacted to the ongoing energy crisis in Europe and the upcoming Fed decision.
Enter your emailThe pair will likely continue falling as sellers target the next important level at parity.Timeline: 1-2 days.came under intense pressure as investors reacted to the ongoing energy crisis in Europe and the upcoming Fed decision.
The implication of this measure will be dire for the region as winter approaches. For one, there are concerns about whether the bloc’s companies will maintain their competitive advantage since they have relied on cheap Russian gas for decades. The EUR/USD price declined even after the US published weak consumer confidence data. According to Conference Board, the country’s consumer confidence declined from 98.4 in June to 95.7 in July, the lowest point since the pandemic started. Additional data revealed that new home sales declined sharply in June.
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