EUR/USD falls to near 1.0900 on dismal market mood.
The US Dollar declines as Fed rate cuts in September appears as imminent.
Middle East tensions grew up as Iran launched missiles on Israel in retaliation to killing of Hamas leader Ismail Haniye.
The EUR/USD pair slips to near the crucial support of 1.0900 in Monday’s European session. The major currency pair faces pressure as market sentiment turns extremely risk-averse due to Middle East tensions and weak United States (US) Nonfarm Payrolls (NFP) report for July, which prompted fears of an economic recession.
S&P 500 futures have faced a bloodbath in Asian trading hours on Monday, exhibiting a sheer decline in investors’ risk-appetite. 10-year US Treasury yields post fresh annual lows near 3.67% as speculation over rate-cut decision from the Federal Reserve (Fed) in the September meeting appears to be a done deal.
Conditions in the Middle East pointing to an all-out war as Iran-backed Hezbollah said it launched dozens of missiles on Israel. The move came in retaliation to the assassination of Hamas leader Ismail Haniyeh by an Israeli airstrike in Tehran.
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