EUR/USD: Fear is giving the greenback an impulse

The financial world is watching the nosedive of crude oil prices which are dragging the market’s sentiment and underpinning the US dollar, FXStreet’s Chief Analysts Valeria Bednarik informs. 

Key quotes

“WTI barrel is trading near $10.00, a result of the ongoing coronavirus pandemic keeping global economies frozen. The commodity is dragging equities lower, which in turn, underpin the greenback.”

“The EU released its February Current Account, which showed a seasonally adjusted surplus of €40.2 B, and the Trade Balance, which came in at €25.8 B.” 

“Germany published the March Producer Price Index, which came in at -0.8%, worse than the previous -0.4% and the expected -0.7%. “

“The US published the Chicago Fed National Activity Index, which fell in March to -4.19 from 0.06 previously.”