EURUSD Heading Towards Oversold Levels -
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Increasing expectations about the future of more strength and times of raising US interest rates brought the US dollar more strength against all other major currencies.currency pair had the share of that decline to the 1.0616 support level, the lowest for the currency pair in five weeks. The poll showed an increase in confidence since November, but it is much lower than its level of 98.6 last February, before Russia began its comprehensive invasion of Ukraine.
Inflation has suffered in Germany in recent months as it has in other countries. The Federal Statistical Office said yesterday that the annual inflation rate rebounded to 8.7% in January after falling to 8.1% in December, as a result of the state shouldering the cost of monthly bills to natural gas customers in December as part of the government's massive energy relief.
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