The EUR/USD pair continued its bearish trend in the overnight session as risks of a European recession rose.
Enter your emailThere is a likelihood that the pair will continue falling as bears target the next key level at 1.0700.Timeline: 1-2 days.pair continued its bearish trend in the overnight session as risks of a European recession rose
Now, there are concerns that the ECB will have a difficult time to exit the accommodative policies if the European economy moves to a recession. With inflation surging, the bank needs to start hiking rates and transitioning to a new normal. If this happens, there is a likelihood that oil and gas will continue their bullish trend, leading to substantial inflation. This inflation will then limit consumer spending, which is the biggest part of the bloc’s economy.
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