The EUR/USD pair remained under pressure on Monday morning as the crisis in Ukraine continued.
Enter your emailThe pair will likely have a bearish breakout as bears test the next key support level at 1.0900.Timeline: 1-2 days.pair remained under pressure on Monday morning as the crisis in Ukraine continued.AdvertisementThe past few weeks have been a bit busy for the financial market. The European Central Bank delivered its decision, in which it decided to leave interest rates unchanged. Its main shift was to lower the size of its asset purchase program.
And in notes last week, analysts at Citigroup and Bank of America warned that the bank could deliver three consecutive rate hkes of 0.50%. Higher interest rates aim to slow inflation by making it attractive for people and save more money instead of spending. Economic data in the past few weeks have been mixed as well. For example, in the United States, the unemployment rate dropped to 3.8% while retail sales declined sharply in February. In Europe, the latest manufacturing and services PMIs were strong even as the European business confidence declined sharply.
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