4 Global Market Updates- 31 August, 2022

 

In this article, we have covered the highlights of global market news about the EUR/USD, USD/CAD, GBP/USD and USD/CNH
EUR/USD loses momentum, putting parity to the test; look at EMU CPI

Alternating trends in the risk complex continue to drive the EUR/USD market action, which is currently exerting some downward pressure on the parity zone.

The risk complex’s improved outlook, which was recently supported by better-than-expected Chinese NBS Manufacturing PMI for the current month, causes the EUR/USD to lose some of its early euphoria (49.4 act).

With recent rumours about the extent of the upcoming interest rate increases by the Federal Reserve and the ECB in September, the continuous selling bias in the dollar has also been contributing to the recent rebound in the pair.

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