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Jul 13 - 09:55 PM

EUR/USD - Poised For Another Test Of Parity On Growth Concerns

By Krishna K  —  Jul 13 - 09:05 PM
  • EUR/USD down 0.4%; Bloomberg reports that GDP forecast for Euro-Area slashed

  • European Commission cuts 2023 GDP projection to 1.4% from 2.3%-Bloomberg

  • Hikes inflation forecast to 7.6% in 2022 from previous 6.1%

  • Largest increase in US consumer inflation since 1981 also undermines EUR

  • Increased expectations of a 100 bps Fed July rate hike weigh nL1N2YU18B

  • Clear break of 1.0000 opens ratchet to 0.9860 Dec 2002 low

  • Resistance 1.0075-80, 1.0120-25

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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