Euro to USD

The euro fell on Tuesday almost to parity with the dollar, a threshold not crossed for two decades, weighed down by the likelihood of recession triggered by ...

"There doesn't seem to be a lot of support for euro at this point. The global economy fears are undermining commodity prices and in turn commodity-focused currencies. But governments and markets are worried Russia might extend the shutdown, exacerbating the energy crunch and tipping the economy into recession. The biggest pipeline carrying Russian gas to Germany, the Nord Stream 1, began annual maintenance on Monday, with flows expected to stop for 10 days. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

Today, 1 EUR equals 1 USD. The shift means European companies and consumers will pay more for the goods and services they import, while European exports become ...

The European Central Bank has already hiked interest rates in a bid to tame inflation and plans to continue doing so as the situation further deteriorates. The invasion has upended energy markets and sent gas bills soaring to all-time highs. All eyes will be on the euro to see if it ends up falling below the American dollar. Supplies from the Nord Stream 1 pipeline stopped earlier this week for a planned 10-day maintenance. Since then, the euro enjoyed a steady rise, reaching almost $1.60 in the summer of 2008, when the Great Recession was wreaking financial havoc across the US. The euro and the dollar have reached parity for the first time in 20 years, signalling the market's assumption that the European economy is heading for a deep recession as a result of Russia's invasion of Ukraine.

EUR/USD sinks to its lowest level in nearly two decades and flirts with exchange rate parity on fears that Russia may indefinitely cut off some energy ...

Although there are no relevant zones of support in the vicinity, parity may act as a floor, but if sellers manage to breach that area to the downside, traders should brace for the possibility of a move towards 0.9625 through the third quarter. A red-hot CPI print will cement the case for another 75 basis points interest rate hike at the July FOMC meeting and possibly September, as policymakers are beginning to act more aggressively to upside inflation surprises. At midday, the EUR/ USD was down 1.1% to 1.0069, but earlier in the day it fell as much as 1.3%, flirting with exchange rate parity for the first time since late 2002. June U.S. CPI data, duefor released on Wednesday, is expected to show annual inflation accelerating to a new cyclehigh near 9% on the back of soaring prices at the pump. Several catalysts weighed on the common currency on Monday, but the main bearish driver was fears that President Putin’s government would cut off some key energy exports to the European Union. PAO Gazprom temporarily shut down Nord Stream 1, the biggest single pipeline carrying Russian gas to Germany, for annual maintenance. - June U.S. CPI data will steal the limelight this week.

Energy concerns and the risk of recession weighed on the outlook for the euro area, while risk aversion fueled a broad rally in the greenback.

The Australian dollar led declines among Group-of-10 counterparts, while the euro fell inline with peers from Norway and New Zealand. The Bloomberg Dollar Spot Index jumped as much as 1.1 per cent. "Even if this gas returns in terms of full flow after the maintenance period, the (risk) premium is unlikely to go away. The bank is pricing the euro to move in between a range of 0.95 to parity against the dollar, he said. The last time it was this low was back in 2002. NEW JERSEY (BLOOMBERG) - Europe's common currency edged closer toward parity with the US dollar Monday (July 11) as energy concerns and the risk of recession weighed on the outlook for the euro area, while risk aversion fueled a broad rally in the greenback.

Concerns over new covid restrictions in China, as well as surging natural gas prices have weighed on European markets today. These fears over an extended ...

Recipients of such information who are resident in Singapore may contact CMC Markets Singapore on 1800 559 6000 for any matters arising from or in connection with the information. In the current environment amidst concerns over rising energy prices and a hamstrung ECB when it comes to rate rises, further declines seem almost a matter of when and not if. Copper prices are lower again today over concerns that we could see the pattern of Q2, replicated in Q3, after China imposed 7-day restrictions across a number of regions. By Thursday, daily vol on the Forint pair sat at 31.54% against 19.68% on the month. Lumber has been consistent in dominating the commodities class in recent days, with the underlying price advancing $100 – or around 15% - over the course of the week, before some of these gains were marked back ahead of the close. That was evidently driven by a combination of factors ranging from fundamental excitement over progress with electric vehicles to the other extreme of bargain hunting after Italy’s bank-heavy MIB index bounced off lows not seen since November 2020. The better option is likely to be to stay at home, even with the higher costs that might involve, which could be good news for holiday destinations here in the UK. On the downside shares are back in focus, opening sharply lower after Friday’s reports that Elon Musk is pulling the plug on the $44bn deal for the social media company. The US dollar index has pushed beyond last week’s high and to its highest level since October 2002, as safe haven demand continues to drive it higher. With reports of overcrowding, lost baggage and delays becoming more commonplace the attractions of going abroad don’t look likely to improve anytime soon, with IAG, easyJet and Ryanair all lower. This US dollar strength has seen the euro push to new 19-year lows, taking out Friday’s previous dip and nearer to parity against the greenback. These fears over an extended economic slump in China have also weighed on copper and oil prices.

For the first time in 20 years, the exchange rate between the euro and the US dollar has reached parity -- meaning the two currencies are worth the same.

Germany recorded its first trade deficit in goods since 1991 last week as fuel prices and general supply chain chaos significantly increased the price of imports. before the war, is attempting to reduce its dependence on Russian oil and gas. on Tuesday, down about 12% since the start of the year.

The euro was last worth the same as the dollar in December 2002, shortly after the currency, now used by 19 European countries, was established.

The last time the euro was worth the same as the dollar was in December 2002, not long after the currency was introduced in 1999. This week, fears that a crucial natural gas pipeline from Russia to Germany, which went offline on Monday for 10 days of scheduled maintenance, could remain shut down for longer have hit the euro hard. The euro, which is shared by 19 European countries, has recently come under pressure, like many other currencies against the dollar, losing more than 10 percent of its value this year.

The euro came within a whisker of parity against the US dollar before suddenly bouncing back, a sign of just how important the level is to traders.