$EURUSD Forecast: Bearish breakout pointing to a test of parity by valbednarik forex trading
leased the final versions of the EU June PMIs, which showed that growth across the EU slowed to a 16-month low. Services activity increased at a weaker rate, whilst goods production fell for the first time in two years. The data exacerbated recession fears, while inflation in the Union stands at record highs.
Ahead of the US opening, Wall Street futures are sharply down, dragged by substantial losses in its overseas counterparts. Government bond yields, on the other hand, ease as investors rush to safety. The yield on the 10-year Treasury note is currently hovering at around 2.85%.trades below the 1.0300 threshold and the bearish breakout of the 1.0330/40 support area anticipates further declines ahead, with parity now in sight.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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