The $EURUSD price declined sharply as risks of more economic pain in Europe continued.
Enter your emailThe pair will likely keep falling as sellers target the second support at 1.005.Timeline: 1 day.declined sharply as risks of more economic pain in Europe continued.
Most economists believe that Europe, led by Germany, are facing their worst economic crisis in decades. Inflation has surged to a multi-decade high while supply chain challenges and prolonged drought have made the situation worse. At the same time, many European rivers have substantial low water levels, which is affecting shipping routes. Goods worth over $80 billion are transported using barges in several rivers. Meanwhile, analysts expect that inflation will average about 8% this year and 4% in 2023.
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