On Thursday (July 7), the EURUSD opened at 1.0180 and closed at 1.0183 yesterday. As of now, the highest has touched 1.0189 and the lowest has been 1.0174. Temporarily reported 1.0184, an increase of 0.01%. GBPUSD temporarily reported 1.1916, down 0.04%; Canadian dollar and us dollar temporarily reported 0.7664, down 0.04%
In early Asian trading on Thursday (July 7), the U.S. dollar traded around 107, and the pace of aggressive U.S. interest rate hikes and risk aversion drove the U.S. dollar higher; the minutes of the fed meeting showed that the July rate hike was 50 basis points and 75 basis points All possible, this fact shows that the Fed has acknowledged the impact of interest rate hikes on the economy; the euro has been dragged down by worries about the European energy crisis, and the euro has continued to fall against the dollar, hitting a new low in two decades.
On Wednesday (6th), the exchange rate of the euro against the US dollar fell to a new 20-year low, while the us dollar index extended its rally to 107.28, a new high in nearly 20 years.
In the past few months, on the one hand, the European Central Bank hopes to curb inflation by raising interest rates, on the other hand, it is worried that the increase in interest rates will increase the debt pressure of some southern European countries . The euro continued to be under pressure. Right now, the energy crisis and the risk of Russia’s “death” have cast a shadow over the euro zone economy, while further enhancing the dollar’s safe-haven appeal.
Against this backdrop, shorting the euro has become one of the most popular trades for investors. Investors expect that the euro may continue to fall against the dollar, and may even fall below parity. During today’s Asia-Pacific trading session, the euro against the US dollar continued to fall. As of press time, it was reported at 1.0198, getting closer and closer to parity.
EURUSD
The euro fluctuated down yesterday, fell below the 1.0200 mark and refreshed a 20-year low. The exchange rate trading around 1.0190. In addition to the fact that the US dollar index continued to climb and refreshed a 20-year high under the support of multiple positive factors, which was the main reason for the pressure on the euro to fall, investors’ increasing concerns about the economic recession in the euro zone also continued to weigh on the exchange rate . Economic data released by the euro zone during the period was mixed, with limited impact on the market. Today, we are concerned about the pressure situation near 1.0300, and the bottom support is near 1.0100.