- Russian President Putin warns of the risk of nuclear war.
- Market sentiment deteriorates briefly on the comments, then bounces.
- EUR/USD advances on the day, but does not reach highs.
The pair EUR/USD fell below 1.0500 following comments by Russian President Putin. The euro is among the weakest currencies in the American session. It previously hit a high of 1.0549, the highest level in two days.
hectic session
Market sentiment deteriorated briefly after Russian President Vladimir Putin said the threat of nuclear war was growing. He added that they have the most advanced weapons, but they don’t want to use them. He sees the use of nuclear weapons as a response to an attack as possible.
Wall Street swings between gains and losses. The S&P 500 is up 0.28%, having fallen during the previous four trading days. Crude Oil prices are back in negative territory. The dollar is trading mixed, with the DXY down 0.35% from lows.
unclear signals
The euro is up against the US dollar after two consecutive daily losses, recovering from three-day lows. The main trend remains up and centers around the 1.0600 area, which is the critical resistance at the moment. On the other hand, the key area is around the 1.0400 area; prior to that level, support levels are at 1.0480 and after that at 1.0440.
As of this writing, the EUR/USD pair is trading around 1.0500, up but far from highs. The 20 hour SMA sits at 1.0480 and a drop below would change the intraday trend to down.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
