4 Global Market Updates- 14 July, 2022
In this article, we have covered the highlights of global market news about the Euro, Dollar, Japan’s Yen and Natural Gas.
The Euro has reached parity; its destiny now rests on energy markets.
The Euro is headed for one of its worst years ever after falling below $1 for the first time in 20 years, particularly if the EU enters a protracted economic crisis as a result of the oil price shock brought on by the war in Ukraine.
For days, the Euro and the dollar were on the verge of parity; on Wednesday, it finally crossed that line. Its year-to-date decline of 11.8 percent is roughly equal to the losses seen in 2015, the year the European Central Bank enacted a significant stimulus.
Analysts believe that Wednesday’s action may pave the way for a slide towards $0.96, with some anticipating a drop to $0.90 if the gas supply is much more interrupted.
The actions placed the ECB in a tough position. To battle inflation, which is now running at a record high of 8.6 percent, it is anticipated to hike interest rates next week for the first time since 2011.
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