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Jul 05 - 08:55 PM

EUR/USD - Languishes After Plunging On Recession Fears

By Krishna K  —  Jul 05 - 06:35 PM
  • EUR/USD on the defensive in Asia after 1.5% decline to 2-decade low Tuesday

  • 17% jump in Europe natural gas prices trigger recession fears, undermine EUR

  • Dissent on ECB plans to support indebted EZ states hurts mood nL1N2YL104

  • Sharp slowing in June EZ business growth contrasts with buoyant US economy

  • Fed June meeting minutes awaited Wed as traders brace for 75bps hike in July

  • Next support 1.0072, 76.4% of 2001-2008 rally; resistance 1.0340-60, 1.0400

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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