4 Global Market Updates- 19 October, 2022

 

In this article, we have covered the highlights of global market news about the EUR/USD, USD/JPY, USD/CAD and USD/CNH.

The EUR/USD will challenge the 0.9540 lows during the next phase of dollar appreciation, according to ING.

After the rise from 0.9700, the EUR/USD stabilized around the 0.98-0.99 range. According to ING analysts, the pair is expected to test the level of 0.9540 as the dollar continues to rise.

“Dollar strength continues to be the biggest obstacle to the pair’s rebound, but the domestic situation is still far from promising to investors. The ZEW expectations index declined less than anticipated, while the present situation survey sharply declined to -72.2 in October. These levels were only last seen in 2020 and 2009.

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