Euro Falls Amid Global Growth Concerns
19 Mayo 2022 - 05:25AM
RTTF2
The euro declined against its most major rivals in the European
session on Thursday, as European stocks fell on growing concerns
that high inflation and tighter monetary policy could hurt global
growth.
The Fed's resolve to raise rates sharply to control high
inflation is fueling concerns about stagflation.
Earnings reports from retailers showed that high inflation were
denting corporate profits, with Target reporting bleak
first-quarter results due to higher fuel and freight costs.
On Wednesday, European Commission President Ursula von der Leyen
announced a €300 billion plan to ditch the reliance on Russian
fossil fuels by 2030.
Members widely expressed concerns over the high inflation
numbers, which had become a major issue for households and
businesses, the minutes from the European Central Bank's April
13-14 showed.
Policymakers judged that the forward guidance conditions for an
upward adjustment of the key ECB interest rates would become
crucial for the policy discussion at the Governing Council's June
meeting.
The euro edged down to 0.8457 against the pound, from a 3-day
high of 0.8495 hit at 9:45 pm ET. On the downside, 0.82 is possibly
seen as its next support level.
The euro touched a 3-day low of 133.92 against the yen and more
than a 2-week low of 1.0229 against the franc, down from its prior
highs of 135.46 and 1.0360, respectively. The next likely support
for the euro is seen around 130.00 against the yen and 1.00 against
the franc.
Reversing from a 3-day high of 1.6668 set at 8:45 pm ET, the
euro fell to a 2-day low of 1.6496 against the kiwi. The euro is
seen finding support around the 1.63 region.
The euro fell back to 1.4967 against the aussie, heading to
pierce a 2-day low of 1.4957 seen around 12:10 am ET. This followed
a 3-day high of 1.5077 it recorded in the Asian session. Next key
support for the euro is seen around the 1.45 region.
In contrast, the euro recovered to 1.0561 against the greenback,
after dropping to 1.0461 at 5 pm ET. Against the loonie, it touched
a 2-day high of 1.3534. If the euro rises further, it may find
resistance around 1.08 against the greenback and 1.38 against the
loonie.
Euro vs CAD (FX:EURCAD)
Gráfica de Divisa
De Feb 2024 a Mar 2024
Euro vs CAD (FX:EURCAD)
Gráfica de Divisa
De Mar 2023 a Mar 2024