The Euro Falls to its Lowest since 2002 due to Rising Energy Costs.

 

On Wednesday, the Euro fell to a new two-decade low as concerns about rising energy prices and the possibility of shortages cast a long shadow over the bloc’s economy. Meanwhile, demand for safe-haven assets drove the dollar to fresh 20-year highs due to the demand for safe-haven assets.

According to statements made by Equinor on Wednesday, it is anticipated that all oil and gas fields disrupted by a strike in Norway’s petroleum industry will be back in the operation over the next few days. Meanwhile, Goldman Sachs (NYSE:GS) upped its natural gas price projections, stating that a complete restoration of Russian gas flows via Nordstream1 was no longer the most plausible scenario. This caused Goldman Sachs to believe that natural gas prices would continue to rise.

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#euro #energyprices #economy #currencies #trading #forex #forextrading #marketmovers #globalmarket 

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