Euro slides to a 20-year low of $1.0005 on fears an energy crisis will tip Europe into recession, as Nord Stream 1 gas pipeline shuts down for maintenance
The euro is teetering ever closer to parity with the dollar.
It’s now trading at just $1.0005, on concerns that the shutdown of the Nord Stream 1 gas pipeline for maintenance could become permanent.
“While we believe that a cessation of Russian gas supply to Europe is a real possibility, one that would cause a Eurozone-wide recession with three consecutive quarters of economic contraction, there are also good reasons to assume that gas supplies will resume after the maintenance.”
Thank you for the in-depth research and careful analysis in this article.