4 Global Market Updates- 13 July, 2022

 

In this article, we have covered the highlights of global market news about the EUR/GBP, CNY, Gold price in US Inflation, and US Dollar Index.
EUR/GBP breaks below 200-DMA support and falls to a two-month low at 0.8400.

During the first part of trading on Wednesday, the EUR/GBP cross saw some selling and fell under the crucial 200-day SMA support. The ensuing decline pushed spot prices to a low of over two months, in the range of 0.8410-0.8405 in the early European session.

Investors are still worried that Europe’s energy problem would cause the country’s economy to contract more quickly. Due to the recent steep increase in borrowing rates for more indebted nations brought on by the European Central Bank’s tightening strategy, the Eurozone is also a danger of further fragmenting. This put considerable downward pressure on the EUR/GBP cross since it was considered a major contributor to the shared currency’s relative underperformance.

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