EU accepts deal to phase out Russian gas imports by late 2027

Sagar Dua FXStreet

The European Union (EU) parliament announces during European trading hours on Wednesday that it has approved a deal to phase out Russian gas imports by late 2027.

Market reaction

It is difficult to ascertain the impact of the news on the EUR/USD pair, which is trading lower since the opening. As of writing, EUR/USD is down 0.3% to near 1.1700.

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.30%	0.75%	0.48%	0.27%	0.29%	0.28%	0.21%
EUR	-0.30%		0.44%	0.18%	-0.01%	-0.01%	-0.02%	-0.09%
GBP	-0.75%	-0.44%		-0.27%	-0.49%	-0.45%	-0.46%	-0.53%
JPY	-0.48%	-0.18%	0.27%		-0.21%	-0.19%	-0.21%	-0.28%
CAD	-0.27%	0.01%	0.49%	0.21%		0.02%	0.00%	-0.04%
AUD	-0.29%	0.00%	0.45%	0.19%	-0.02%		-0.01%	-0.09%
NZD	-0.28%	0.02%	0.46%	0.21%	-0.01%	0.00%		-0.08%
CHF	-0.21%	0.09%	0.53%	0.28%	0.04%	0.09%	0.08%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

GBP/USD hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold retakes $4,400 as receding Fed hike bets undermine USD

Gold is looking to build on Friday's bounce from the $4,300 neighborhood as reduced bets on an immediate Fed rate hike keep US Dollar bulls on the defensive and support the non-yielding bullion. However, the US-Iran standoff could limit deeper USD losses, warranting caution before positioning for the resumption of the XAU/USD pair's recent uptrend to its highest level since June 5.

BTC/USD price outlook: Bitcoin navigating between arc levels. Potential continuation toward $58,000

Overview: Based on Arc Cycle Analysis applied to the 1D chart, Bitcoin is trading between the 0.5 Arc and 0.618 Arc within the current Arc Cycle. Price has cleared the 0.5 Arc and is progressing toward the 0.618 Arc, suggesting continued movement toward the next Arc boundary. Metric

US Dollar Weekly Forecast: Economic cracks challenge Fed rate bets

It was a strange week for the US Dollar: while the geopolitical situation has remained largely unchanged, with the usual back-and-forth between the US, Iran, and occasional third parties, disappointing domestic data have re-emerged, reducing expectations of potential tightening by the Federal Reserve in the next few months.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.