On Tuesday, the major currency pair is looking weaker than the day before. The current quote for the instrument is 0.9680.
The US celebrated the Columbus Day yesterday, and didn’t publish any important statistics.
However, the International Monetary Fund together with the World Bank made a statement where they emphasised the key risks for global economies. Their expectations imply at least two more quarters of decline, and the global economy might lose about $4 trillion by 2026. Also, there are risks of a global recession in 2023.
As for China, the IMF believes its real estate market might slow down. Globally, inflation risks remain quite high – the indicator is nowadays called an “accelerating train”.
Such gloomy comments pushed the demand for the “greenback” as a “safe haven” asset upwards. For the Euro, a significant issue is the upcoming heating season in Europe and many problems around it.
Today’s economic calendar doesn’t offer any important data from the US. Investors are likely to stick to the facts they already know.
