EUR/USD: The likelihood of EUR/USD following EUR/CHF and USD/CHF to parity is increasing.

Talk of parity has been increasing in the FX market. The probability of EUR/USD touching parity has increased, in the view of economists at MUFG Bank. 

Will the EUR/USD follow EUR/CHF and USD/CHF to parity? .“We still expect the Ukraine conflict and fallout will remain important in driving CHF and EUR performance.”

“A more prolonged conflict and increasing risk of greater energy supply disruption for European economies are increasing the risk of EUR/USD following EUR/CHF and USD/CHF in hitting parity this year.” 

EUR/USD struggles to gather recovery momentum, holds above 1.0400

EUR/USD has staged a rebound in the early European session on Monday but struggled to gather momentum. The European Commission announced on Monday that it lowered the euro area 2022 growth forecast to 2.7% from 4%, limiting the shared currency’s potential gains.


GBP/USD fluctuates above 1.2200 ahead of BOE hearing

GBP/USD seems to have gone into a consolidation phase above 1.2200 on Monday following a recovery attempt in the Asian session. Investors await the Bank of England’s (BOE) Monetary Policy Report hearing before the UK’s Treasury Select Committee.


Gold rebounds from multi-month lows, holds above $1,800

Gold has extended its daily slide in the early European session on Monday and touched its lowest level in more than three months at $1,786 before rebounding above $1,800. The broad-based dollar strength amid risk-aversion, however, limits XAU/USD upside.

Gold News 

Breaking: Luna Foundation Guard (LFG) sold 46,876 BTC amid Terra’s death spiral

The Luna Foundation Guard (LFG) revealed that it had sold a significant number of tokens in its reserves when the price of UST began to drop substantially below one dollar. 

Europe set for weaker start after China data disappoints

While US markets underwent their 6th successive weekly decline, markets in Europe managed to claw their way back into positive territory, helped by the strength of the US dollar respectively.

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