For the first time in 20 years, . was released The euro has reached parity with the US dollar After its value fell on Tuesday amid uncertainty over the threat to cut off natural gas supplies from Russia to the territory of the European Union.
In this context, the 1 euro = 1 dollar parity has occurred in passing in the currency markets in a way not seen since December 2002, two decades ago, as the North American currency regains strength in the face of Publish data inflation in June in the United States, which may give clues about what’s to come next Federal Reserve.
In an economic climate of uncertainty due to factors ranging from local lockdown to sporadic outbreaks COVID-19Invade Russia a Ukraine and the high inflation around the world but that in great powers such as the United States or the European Union generates fears of a Recession.
The euro price reached $10,000 for the first time in 20 years. Even with the crisis of high fiscal deficit, the euro has not fallen much.
– Gabriella Seller Bagaza (@GabySillerP)
12 July 2022
The most worrying issue in the European community at the moment is the question of the supply of Russian gas delivered to Europe via the Nord Stream 1 gas pipeline, but since it was closed for maintenance, this has raised doubts about whether it will be restarted. Or it will stay with the flow closed.
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It is precisely the issue of energy supplied by Russia that worries the markets, which is why Canada has announced that it will send some electricity generation turbines to Germany to face the crisis due to the dependence on Russian energy.
The Nord Stream 1 . pipeline Has undergone maintenance before Business Gazprom EnergyOf Russian origin, for this purpose the flow of gas coming directly from Russian territory has been interrupted, but the countries that are supplied through this channel are still uncertain whether Moscow will order the reactivation of the supply when the works are completed, which is expected to take ten days to complete.
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Although it will be known by July 21 what the outcome of this issue will be, for now the foreign exchange markets have already placed their bets and fears that a recession in europe And that the bloc’s currency could continue to decline has not dissipated, backed by economic data from Germany, France and the United States.
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