In doing so, the major currency pair fails to justify the economic fears at home, as well as geopolitical tensions emanating from China and Russia.
Also positive could be the EU policymakers’ readiness to use emergency powers to avoid a supply crisis. Reuters reports after obtaining the European Union draft rules. “Under draft rules, the EU is to ask companies to accept priority rated orders for critical products.” Alternatively, the Bundesbank said on Monday that it expects the German economy to shrink markedly in the autumn and winter months amid reduced or rationed energy consumption, as reported by Reuters.
Source: Financial Digest (financialdigest.net)
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