The Euro ends Monday’s session at its lowest, really close to parity: 10 p.m., our currency (-1.4%) sank to around 1.0034, its weakest mark since December 5, 2002 .
The next support is around 0.9900, it dates back to November 27, 2002, the next one is more consistent, it is around 0.9650 and was tested 3 times on August 6 or October 18, 2002.
De Dollar was not affected by the net easing of -12Pts for the T-Bonds towards 2.99%).
It is strong against all currencies (it passes the 137 mark against the Yen (137.4, new record) and climbs to 1.189 against the Pound Sterling (which recovers quite easily from the imminent departure of Boris Johnson) then +0 .6% against the Swiss Franc 0.983.
This same Swiss Franc which gains 0.7% against the Euro for a new record of 0.9860 (equal to the short-lived low of January 19 or 22, 2015 after the break in the fixed parity with the Euro (range 1.20/ 1.25).
No macroeconomic data was expected on Monday in Europe, but the next few days will see the ZEW index appear in Germany, inflation in France, or even industrial production and the trade balance in the euro zone.
All traders await with apprehension the ‘CPI’ (US consumer price index) on Wednesday then the ‘PPI’ (producer price) on Thursday.
It will be the turn of industrial production on Friday… the time to measure the impact of inflation on manufacturing activity.
Copyright (c) 2022 CercleFinance.com. All rights reserved.