- Ukrainian Hryvnia gives back Monday’s gains
- Ukraine’s application to join the EU accepted
- German inflation CPI rise to 5.1%
- ECB board members speech ahead
The Hryvnia Euro (UAH/EUR) exchange rate declined on Tuesday, reversing on gains from the first trading session of the week. The pair declined -0.72% yesterday, settling at €0.0301, towards the low of the day. At 07:50 UTC AM, UAH/EUR trades slightly down -0.13% at €0.0301 being on track to extend their losses for the second consecutive day.
The possibility for Ukraine to join the European Union has failed to spark some bids for the Ukrainian Hryvnia against the Euro.
Meanwhile, the German annualized consumer inflation rate has increased to 5.1% from the 4.9% previous reading. At the same time, the month-over-month inflation rate rose from 0.4% in January to 0.9% in February.
The rise in energy prices is the main culprit for the sharp rise in consumer prices. The ongoing war in Ukraine will likely lead to even higher prices in the energy sector.
Looking ahead there is no high impacting Euro data scheduled on the economic calendar. However, several Executive Board members of the European Central Bank are scheduled to speak.
The speech by ECB’s Isabel Schnabel will kick off the round at 11:00 UTC followed by ECB’s De Guindos speech at 12:00 UTC respectively ECB’s Lane speech at 17:00 UTC.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
