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Safe-haven demand pins euro near a five-year low

By Joice Alves LONDON (Reuters) - The euro flattened on Monday, staying near a five-year low against the U.S. dollar, as investors sought safety in the greenback amid worries...
Safe-haven demand pins euro near a five-year low © Reuters. FILE PHOTO: South Korean won, Chinese yuan and Japanese yen notes are seen on U.S. $100 notes in this file photo illustration shot December 15, 2015. REUTERS/Kim Hong-Ji//Illustration

By Joice Alves

LONDON (Reuters) - The euro flattened on Monday, staying near a five-year low against the U.S. dollar, as investors sought safety in the greenback amid worries about slowing global growth.

The war in Ukraine and its economic fallout, in particular soaring food and energy inflation, has been a major drag on the euro, which has weakened more than 8% against the dollar this year. The difference between the European Central Bank and the U.S. Federal Reserve response to higher inflation has also weighed on the euro.

Data on Friday showed euro zone inflation surging to another record, adding to the case for the ECB to raise interest rates this month.

Jeremy Stretch, head of G10 FX strategy at CIBC said he expected headwinds on the euro to persist as the ECB is set to hike rates on July 21 by "a mere 25 basis point".

"ECB action remains moderate when compared with a 75bps Fed hike," he said. "Beyond ECB monetary policy discussion, the primary European Union risk variable relates to the energy sector."

The euro was flat at $1.0423 on Monday, barely above May's five-year trough of $1.0349.

Global recession fears have kept the dollar elevated even if markets have scaled back their U.S. rate hike expectations. The market is pricing in around an 85% chance of another hike of 75 basis points this month and rates at 3.25% to 3.5% by year end - before cuts in 2023.

The U.S. dollar index rose 0.1% to 105.140, not far below last month's two-decade high of 105.790.

Trade is likely to be light ahead of Monday's Independence Day holiday in the United States.

The Australian and New Zealand dollars, as well as the Swedish crown, hit two-year lows on Friday and were not far from those levels on Monday.

"The Aussie and other commodity currencies and even euro and sterling will likely decline even more into the week, given markets currently are super-focused on the risk of a sharp slowdown in the global economy," said Carol Kong, a currency strategist at the Commonwealth Bank of Australia (OTC:CMWAY) in Sydney.

Sterling hit a two-week low of $1.1976 on Friday and last bought $1.21170. [GBP/]

Looking ahead to the rest of the week, investors are awaiting publication of minutes from last month's Fed meeting on Wednesday and U.S. employment data on Friday.

Australia's central bank will meet on Tuesday and markets have priced in a 40 basis point (bp) rise in interest rates. The Aussie may not catch much of a boost if a hike of that size, or thereabouts, is delivered. [AUD/]

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29-03-2024 04:55:17 (UTC+7)

EUR/USD

1.0790

+0.0003 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (1)

EUR/USD

1.0790

+0.0003 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (1)

GBP/USD

1.2622

-0.0001 (-0.00%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (6)

USD/JPY

151.40

+0.03 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (2)

AUD/USD

0.6515

0.0001 (0.00%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (4)

Sell (3)

USD/CAD

1.3540

+0.0001 (+0.01%)

Summary

Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (5)

EUR/JPY

163.31

+0.06 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (3)

Sell (2)

EUR/CHF

0.9730

+0.0003 (+0.03%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (5)

Gold Futures

2,254.80

-0.10 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

Silver Futures

25.100

+0.002 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Copper Futures

4.0115

-0.0003 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

83.11

+1.76 (+2.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

87.03

+0.08 (+0.09%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (3)

Natural Gas Futures

1.752

+0.034 (+1.98%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (6)

US Coffee C Futures

188.53

-2.12 (-1.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

S&P 500

5,254.35

+5.86 (+0.11%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (8)

DAX

18,504.51

+27.42 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

FTSE 100

7,952.62

+20.64 (+0.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Hang Seng

16,541.42

+148.58 (+0.91%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (1)

US Small Cap 2000

2,120.15

+5.80 (+0.27%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (5)

Sell (4)

IBEX 35

11,074.60

-36.70 (-0.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

BASF SE NA O.N.

52.930

-0.320 (-0.60%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

28.43

+0.01 (+0.04%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

277.80

+0.35 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Adidas AG

207.00

+2.30 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Deutsche Lufthansa AG

7.281

+0.104 (+1.45%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Siemens AG Class N

176.96

+0.04 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Deutsche Bank AG

14.582

-0.030 (-0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

 EUR/USD1.0790Neutral
 GBP/USD1.2622↑ Sell
 USD/JPY151.40↑ Buy
 AUD/USD0.6515Neutral
 USD/CAD1.3540Sell
 EUR/JPY163.31↑ Buy
 EUR/CHF0.9730Sell
 Gold2,254.80↑ Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil87.03Buy
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
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SJC Eximbank7,880/ 8,050
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Cập nhật 29-03-2024 04:55:19
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ↀ Giá vàng thế giới
$2,229.19+38.171.74%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.82+5.390.07%
Brent$86.82+5.180.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.580,0024.950,00
EUR26.018,3427.446,04
GBP30.390,9531.684,00
JPY158,69167,96
KRW15,8419,20
Cập nhật lúc 18:53:18 28/03/2024
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