EUR/USD breaking towards 2022 lows, 1.11 the figure vulnerable, 1.1020 eyed below there By ross_burland EURUSD Currencies Ukraine
Ukraine's crisis and uncertainty remains in the driving seat.
It is risk-off across the board with European stocks tumbling and there was a stampede for US and German government bonds due to the huge uncertainty caused by Russia's invasion of Ukraine. Losses for the pan-European STOXX 600 index sent it down nearly 2% by midsession and Wall Street is also in a sea of red. A majority of major S&P 500 are red with financials the weakest group.
Meanwhile, February PMI Data showed momentum in eurozone manufacturing growth had already waned slightly last month, although it was still relatively strong and firms said supply chain constraints had eased. With that being said, ''Europe remains highly exposed to Russia in some sectors, particularly energy,'' analysts at TD Securities explained. ''As the West rushes to sanction Russia, Europe is likely to feel the hit the hardest.
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