The Rhine River has fallen to a critical 40cm mark at a key German waypoint (was 42cm earlier today). Nevertheless, the decline will not halt ship traffic according to sources, but the trend is not good.

If the area becomes unpassable it impacts goods transport including coal and could lead to increased chance of not only higher costs (finding alternative means of transport would be higher) but the chances for a German recession.

EURUSD falls to a new low for the day

The EURUSD is trading to new lows on the day at 1.0268 and approaches the rising 100 hour MA at 1.02612.

The price is also back in the up and down range with 1.0277 to 1.02934 as the wide ceiling, and1.0096 to 1.0122 as the wide floor.