The EUR/USD pair flirted with the 1.0700 threshold on Tuesday as investors shrugged off war-related concerns and demanded high-yielding assets. Asian
EUR/USD Current Price: 1.0624 S&P Global PMIs signaled a steer economic contraction in the EU at the beginning of Q4. European Central Bank Christine Lagarde said the battle against inflation is going well. EUR/USD retreated sharply from near 1.0700, aims to extend its slide. stock markets advanced, supporting the upbeat mood, alongside a sharp retracement in government bond yields after Monday’s peaks.
On the one hand, Gabriel Makhlouf, Governor of the Central Bank of Ireland, said that the Middle East unfolding crisis will likely impact economies, although adding that it was too early to assess such an impact. On the other hand, President Christine Lagarde said the battle against inflation is going well, speaking with the presidents of the European Commission. Lagarde is due to speak at the Hearing on Women in Finance and Economics before the European Parliament in Brussels.
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