The energy crisis in Europe has grabbed hold of market concerns, giving the EUR a kick lower this week.

German Economy Minister Robert Habeck spoke overnight:

  • "Alone from the dynamics which are now being created by speculation and fossil energies, there is already a risk of slipping into a recession,"
  • said the government was tightening laws for energy security and could provide big energy firms with capital against the will of some shareholders to ensure energy supply security.

EUR/USD update:

eur chart 07 July 2022