Euro declines to two-week lows on economic recession concerns
2022-08-16 09:50AM UTC

Euro declined in European against dollar for third straight session, marking two-week lows amid risk aversion and concerns about global deceleration.


Such ominous slowing down of economic growth would hamper the ECB's policy plans, and hurt euro's standing. 


EUR/USD fell 0.35% to 1.0125, after falling 1% yesterday, the second loss in a row following disappointing Chinese data. 


Global Recession


Earlier US data showed factory orders slowed down sharply in New York to two-year lows, while housing markets declined as well to 2020 lows. 



Chinese data showed the economy slowed down more than expected in July, in turn triggering concerns about global growth prospects this year. 


Growth Risks


Europe continues to face growth risks in regards to its energy crisis and low natural gas supplies from Russia, which will increase pressure on the euro. 


It might force the European Central Bank to slow down its pace of policy tightening compared to the Federal Reserve's, in turn weakening euro against the greenback. 

Forex and Currency News

Forex News


Will the US payrolls report pave the way for early Fed interest rate cuts in 2024?
2023-12-08 09:09AM UTC
Markets today await the crucial US payrolls report to gauge the strength of the US labor sector and ...
Forex News


Dollar resumes gains ahead of US jobs data
2023-12-08 08:53AM UTC
Dollar rose in European trade on Friday against a basket of major rivals, resuming gains and ...
Forex News


Dollar gives up three-week high ahead of unemployment claims data
2023-12-07 11:30AM UTC
Dollar declined in European trade on Thursday against a basket of major rivals away from three-week ...

Forex Technical Analysis

EUR USD Analysis


Evening update analysis for the EURUSD 08-12-2023
2023-12-08 15:04PM UTC
The EURUSD pair attempts to break 1.0760 level again, to hint heading to activate the negative ...
NZD USD Analysis


Midday update for the NZDUSD 08-12-2023
2023-12-08 10:36AM UTC
The NZDUSD pair keeps its stability above 0.6140 level, to continue suggesting the bullish trend ...
AUD USD Analysis


Midday update for the AUDUSD 08-12-2023
2023-12-08 10:36AM UTC
The AUDUSD pair settles around 0.6610 since morning, waiting to get positive motive that assist to ...