The EUR\/USD pair bounces from two-decade lows recorded during the European session, gaining 1.34% in the day, boosted by improved in market sentiment and a weaker US dollar, despite the Fed\u2019s hawkish stance, opening the door for aggressive tightening by the end of the year.
The Euro began trading nearby the day\u2019s lows, just below the 0.9600 figure, and dived towards a fresh two-decade low at around 0.9538 before rallying sharply towards the daily high at 0.9726 before settling around current spot prices. At the time of writing, the EUR\/USD is trading at 0.9722.
The energy crisis keeps the Eurozone under pressure. In the previous trading session, namely on Tuesday, news that the Nord Stream pipelines 1 and 2 had leaks pushed energy prices higher. Some countries\u2019 officials said it could be sabotage, and even Danish PM Frederiksen said it was \u201chard to imagine that these are coincidences.\u201d
German officials expressed concern that a \u201ctargeted attack\u201d had caused a sudden pressure loss. Norway was looking to increase security around its infrastructure. Earlier, the EU\u2019s economic calendar featured the GfK Consumer confidence, which fell to -42.5 heading into October, from a -36.8 September reading, below estimates. According to the GfK institute, improvement in consumer morale is closely tied to lowering inflation.
ECB officials have expressed the need for another 75 bps rate hike at its October meeting, led by ECB member Kazimir, Rehn, and uber-hawk Austria\u2019s central bank governor Robert Holzmann.<\/p>\n","protected":false},"excerpt":{"rendered":"
The EUR\/USD pair bounces from two-decade lows recorded during the European session, gaining 1.34% in the day, boosted by improved in market sentiment and a weaker US dollar, despite the Fed\u2019s hawkish stance, opening the door for aggressive tightening by the end of the year.The Euro began trading nearby the day\u2019s lows, just below the …<\/p>\n","protected":false},"author":13,"featured_media":71176,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6884],"class_list":["post-73092","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-eur-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=73092"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73092\/revisions"}],"predecessor-version":[{"id":73098,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73092\/revisions\/73098"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71176"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=73092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=73092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=73092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}