empty
 
 

14.07.202607:39:56UTC+00Euro Nears One-Year Low as Middle East Tensions Weigh

The euro traded just below $1.14, hovering near a one-year low against the US dollar, as investors reacted to escalating tensions in the Middle East, higher oil prices, and mounting fears that inflation will weigh on monetary policy and economic growth. Uncertainty over energy supplies intensified after the US military continued strikes against Iran, following President Donald Trump’s reinstatement of a blockade on Iranian shipping and his proposal of a 20% fee for securing passage through the Strait of Hormuz. In response, markets increased their bets on further European Central Bank rate hikes, with money markets now projecting a deposit rate of 2.70% by December, up from 2.25%, and fully pricing in an increase in September. In the US, Federal Reserve Governor Christopher Waller cautioned that the central bank may need to raise interest rates “in the near term” if inflation stays above its 2% target. Investors are now focused on upcoming comments from Federal Reserve Chair Kevin Warsh and the release of US inflation data later today.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback