EUR – The single currency weakened across the board on Monday, pushing EURUSD below parity as concerns surrounding Europe’s energy crisis deepened further as Russia stated it would shut the Nord Stream 1 pipeline for three days at the end of the month.
USD – The dollar rose across the board on Monday as investors shied away from riskier assets amid growing fears that interest-rate hikes in the United Stated and Europe, aimed at curbing inflation, would weaken the global economy.
Indeed, Caxton argues USD strength is “risk being taken off the table after the market got a reality check from last week’s Fed speakers that an imminent dovish pivot is off the cards. With investors now clearly expecting a relatively hawkish message from Fed Chair Powell at Jackson Hole on Friday, it’s a perfect cocktail of risk-aversion and a hawkish Fed for the greenback to bound higher, especially when growth worries, especially in Europe, continue to mount.”
USD – The dollar rose across the board on Monday as investors shied away from riskier assets amid growing fears that interest-rate hikes in the United Stated and Europe, aimed at curbing inflation, would weaken the global economy.
Indeed, Caxton argues USD strength is “risk being taken off the table after the market got a reality check from last week’s Fed speakers that an imminent dovish pivot is off the cards. With investors now clearly expecting a relatively hawkish message from Fed Chair Powell at Jackson Hole on Friday, it’s a perfect cocktail of risk-aversion and a hawkish Fed for the greenback to bound higher, especially when growth worries, especially in Europe, continue to mount.”
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.