Fundamental

The Australian Dollar (AUD) remains under sustained downside pressure, dragging AUD/USD to multi-week lows.

The Reserve Bank of India has intervened decisively to cushion the Indian Rupee’s decline to successive record lows. It is a bold move, reflecting the central bank’s urgency to curb bets against Asia’s worst-performing currency this year. But will it work?

US dollar rose against the Mexican peso on Friday, as we continue to see a lot of interest rate moves driving things forward.

EUR/USD struggles to gain traction and trades near 1.1500 in the European morning on Monday after posting small losses in the previous week. The pair’s near-term technical outlook suggests that the bearish bias remains intact.

It is clear that central banks will need to respond to the current spike in energy prices. How they respond will be decisive in determining whether the global economy enters a recession or avoids one.

The EUR/USD pair ends the week around 1.1530, barely below its opening but off the peak at 1.1640. Widespread optimism on Monday was diluted as days went by, and financial markets moved once again on war-related headlines.