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24 Mar 2022
1 min read

Euro Faces Threats of Energy Supply Risks

 

 

Euro Teetering On The Edge

Euro maintains a solid footing today though anticipated to face some challenges in the coming days after Biden NATO visit.

The US president physically joining the EU summit today is quite historic for diplomacy in Europe. Their efforts to further sanction Russia to speed an end to the conflict may be well-meaning, but the global markets have to be prepared for the cost.

The recent trading sessions saw the price of the EUR/USD currency pair moving in narrow ranges. The pair grows more vulnerable to losses as the war intensifies.

The Fed’s soft-landing last week caused a realignment in the markets. The US session saw bond markets recovered considerably while equities plummeted. Asia-Pacific equities struggled as the world economy continues to reel from high energy and metal prices.

Putin to Switch Gas Invoicing to Roubles

In an apparent effort to boost the country’s currency, the Russian president announced that Russia will begin to require European gas buyers to pay in Roubles.

Following this announcement, Brent crude oil traded higher due to a drastic decline in oil stock as the demand pushes on.

Trade Commodities Now

*OspreyFX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.

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