Forex analytics and overview

Euro Slides To 5-Year Low

2022.04.27 17:38

The euro continues to lose ground, and is down for a fifth successive day. EUR/USD has fallen close to 1% today, as it trades at 1.0542.

Russia’s Comments Weigh On Markets

The euro blues show no signs of easing, as the currency is getting pummelled by the U.S. dollar. EUR/USD is down 2.34% this week, and has plunged a massive 4.72% in April. Comments out of Moscow have dampened risk appetite and weighed on the wobbly euro. Russia is clearly perturbed by the shipments of weapons from the U.S. and Western Europe to Ukraine, and Russian officials have responded with threatening rhetoric, warning that these weapon shipments are legitimate targets. Russian foreign minister Lavrov has added that the threat of nuclear war is “real.”

If this wasn’t enough to give investors the jitters, Russia announced that Poland and Bulgaria would have their natural gas supplies cut off if they did not pay in rubles. Moscow is raising the ante by the weaponization of its energy supplies, a move that could have dire consequences for European countries dependent on Russian energy. In this bleak environment, it’s no surprise that the euro is under strong pressure, and could be headed for 1.0300 and even parity if the standoff between the West and Russia continues.

Another factor weighing on the euro is the Federal Reserve, which is tightening policy and is virtually certain to deliver a half-point rate increase next week. With Fed Chair Jerome Powell and other FOMC members saying that more half-point hikes could be on the way, an aggressive Fed is widening the U.S./Europe rate differential and making the euro less attractive to investors..

EUR/USD Technical

  • EUR/USD continues to break through support levels. 1.0553 is under pressure, followed by support at 1.0411
  • There is resistance at 1.0657 and 1.0728

Euro Slides To 5-Year LowEUR/USD Daily Chart.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,555.41 4.41%
ethereum
Ethereum (ETH) $ 3,486.78 2.20%
tether
Tether (USDT) $ 0.998807 0.08%
xrp
XRP (XRP) $ 2.31 2.92%
bnb
BNB (BNB) $ 697.75 1.16%
solana
Solana (SOL) $ 196.98 3.92%
dogecoin
Dogecoin (DOGE) $ 0.337354 4.69%
usd-coin
USDC (USDC) $ 0.999653 0.14%
staked-ether
Lido Staked Ether (STETH) $ 3,481.79 2.40%
cardano
Cardano (ADA) $ 0.935736 2.08%
tron
TRON (TRX) $ 0.255685 1.39%
avalanche-2
Avalanche (AVAX) $ 41.05 5.96%
chainlink
Chainlink (LINK) $ 25.16 3.71%
the-open-network
Toncoin (TON) $ 5.87 5.00%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,140.99 2.49%
shiba-inu
Shiba Inu (SHIB) $ 0.000024 6.37%
sui
Sui (SUI) $ 4.60 2.29%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,071.28 4.08%
hedera-hashgraph
Hedera (HBAR) $ 0.324078 10.32%
stellar
Stellar (XLM) $ 0.397771 8.18%
polkadot
Polkadot (DOT) $ 7.53 3.23%
hyperliquid
Hyperliquid (HYPE) $ 30.06 6.87%
weth
WETH (WETH) $ 3,486.02 2.20%
bitcoin-cash
Bitcoin Cash (BCH) $ 467.48 2.53%
leo-token
LEO Token (LEO) $ 9.50 1.58%
uniswap
Uniswap (UNI) $ 14.46 2.11%
litecoin
Litecoin (LTC) $ 108.07 1.98%
pepe
Pepe (PEPE) $ 0.000019 4.85%
bitget-token
Bitget Token (BGB) $ 5.04 19.34%
near
NEAR Protocol (NEAR) $ 5.55 3.16%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,679.73 2.37%
ethena-usde
Ethena USDe (USDE) $ 0.998708 0.05%
aave
Aave (AAVE) $ 371.61 3.30%
aptos
Aptos (APT) $ 9.77 2.43%
internet-computer
Internet Computer (ICP) $ 11.33 6.25%
usds
USDS (USDS) $ 0.999246 0.21%
crypto-com-chain
Cronos (CRO) $ 0.163649 2.08%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.525369 5.08%
vechain
VeChain (VET) $ 0.052623 9.51%
ethereum-classic
Ethereum Classic (ETC) $ 27.82 1.69%
mantle
Mantle (MNT) $ 1.23 3.19%
render-token
Render (RENDER) $ 7.79 2.31%
bittensor
Bittensor (TAO) $ 502.46 4.52%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.39 2.27%
mantra-dao
MANTRA (OM) $ 3.80 0.89%
whitebit
WhiteBIT Coin (WBT) $ 24.92 2.35%
monero
Monero (XMR) $ 191.28 0.83%
arbitrum
Arbitrum (ARB) $ 0.815313 2.51%
dai
Dai (DAI) $ 1.00 0.10%
filecoin
Filecoin (FIL) $ 5.44 5.95%