# Euro slumps to two-decade low as recession fears grow

> The euro fell as much as 1.75% to its lowest level since late 2002 while the dollar index rose 1.6% at one point, the dollar's biggest one-day gain since March 2020. Safe-haven demand and a 17% jump in European and British natural gas prices drove the moves.

- Date: 2022-07-05 · published 2022-07-05T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/10283-euro-slumps-to-two-decade-low-as-recession-fears-grow
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Rising European gas costs raise recession and inflation risk for the euro zone, pressuring the euro and supporting the dollar, which can affect dollar-denominated feed commodity prices and import costs for European buyers.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2022-07-05 | 5 | -3.3% | -3.4 | Euro hit a two-decade low on 2022-07-05 as recession fears, safe-haven dollar demand and a 17% jump in European gas prices drove the sharp one-day decline. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-07-05 | [Euro slides to 20-year low against the dollar as recession fears build](https://feedsoft.ai/events/10286-euro-slides-to-20-year-low-against-the-dollar-as-recession-fears-build.md) | -3.1% | -1.3% |
| EURUSD | 2026-06-18 | [Euro Slumps to 2-1/2-Month Low](https://feedsoft.ai/events/11514-euro-slumps-to-2-1-2-month-low.md) | -1.8% | -1.3% |
| EURUSD | 2023-03-15 | [Euro Slumps against Pound and Dollar as European Banking Fears Rise](https://feedsoft.ai/events/10082-euro-slumps-against-pound-and-dollar-as-european-banking-fears-rise.md) | +0.4% | +1.7% |
| EURUSD | 2022-07-05 | [European stock markets tumble on rising fears of recession \| Stock markets \| The Guardian](https://feedsoft.ai/events/10290-european-stock-markets-tumble-on-rising-fears-of-recession-stock-markets-the.md) | -3.1% | -1.3% |
| EURUSD | 2020-03-19 | [FOREX-Euro plunges to three-year lows as dollar demand jumps](https://feedsoft.ai/events/6270-forex-euro-plunges-to-three-year-lows-as-dollar-demand-jumps.md) | +0.0% | +0.7% |
| DXY | 2022-07-05 | [Euro slides to 20-year low against the dollar as recession fears build](https://feedsoft.ai/events/10286-euro-slides-to-20-year-low-against-the-dollar-as-recession-fears-build.md) | +1.5% | -0.1% |
| DXY | 2026-06-18 | [Euro Slumps to 2-1/2-Month Low](https://feedsoft.ai/events/11514-euro-slumps-to-2-1-2-month-low.md) | +1.4% | +1.0% |
| DXY | 2024-08-05 | [Emerging Markets equities slump as US recession fears spark global selloff](https://feedsoft.ai/events/12017-emerging-markets-equities-slump-as-us-recession-fears-spark-global-selloff.md) | -0.4% | -0.9% |

## Sources

- reuters.com: https://www.reuters.com/business/aussie-ascendant-before-rba-yen-pressured-by-rising-us-yields-2022-07-05/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.