$EURUSD Reaching Oversold Levels
Enter your emailThe rising cost of European energy supplies has driven deep declines in many financial model-derived estimates of the single currency's fair value this year, and with little respite on the horizon, some of the market's most bearish forecasters are feeling upbeat about their EUR/USD outlook.will decline significantly in 2022.
The price of electricity in Germany will increase over the next year by more than 1000 US dollars in terms of Brent oil energy equivalent. This is far from normal, and so says Jordan Rochester, the expert at Nomura: "It is a crisis that does not only stem from the restricted energy supplies from Russia, but a series of unfortunate issues."
"These incomprehensible price increases add pressure on European leaders to find a solution to the unfolding energy crisis that will put pressure on many families," said Bas Van Giffen, chief economic analyst at Rabobank.
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