- Another uninspiring trading day for the UAH to EUR pair
- Euro traded slightly upwards towards the high of the week
- Crude Oil crashes for the second day straight
- Ukrainian President Zelensky to address US Congress
The Ukrainian Hryvnia Euro(UAH/EUR) exchange rate copy-pasted the same boring and uninspiring trade that was seen at the start of the week. The UAH to EUR pair was seen trading inside a very narrow trading range between an intraday low of 0.0309 and an intraday high of 0.0311. The pair settled yesterday -0.35% lower at 0.0310.
At 11:00 UTC, UAH/EUR trades -0.18% lower at 0.03109.
Despite the tight trading range, Ukrainian Hryvnia appears to struggle to make any significant breakthrough, as the EUR remains broadly unchanged ahead of the Federal Reserve interest rate decision.
Elsewhere, crude oil plunged for the second consecutive day settling down -6.38% at $96.44 as global risk appetite improved.
The consumer price index in Italy increased at a 0.9% pace in February matching the previous reading. At the same time, in annual terms, the pace of increase in consumer prices picked up from 5.7% to 5.9%. The Euro traded slightly upwards towards the high of the week as investors are cautiously waiting for more cues from the Federal Reserve.
Another market-moving event is the Ukrainian President Zelensky’s virtual address to US Congress scheduled on Wednesday at 03:00 PM UTC.
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