# Euro plunges to new 20-year low after Russian gas halt

> The euro dropped below $0.99 to a new 20-year low after Russia halted gas supplies down its main pipeline to Europe. Markets had priced a near 80% chance of a 75 basis point ECB hike at the upcoming meeting.

- Date: 2022-09-05 · published 2022-09-05T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/39802-euro-plunges-to-new-20-year-low-after-russian-gas-halt
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

The euro's decline follows the energy supply shock from Russia and increases European import costs. Feed buyers in Europe face higher input costs, and the weaker currency can support EU export competitiveness.

## Read by commodity

- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-09-22 | [Euro plummets to a 20-year low amid war in Ukraine](https://feedsoft.ai/events/39804-euro-plummets-to-a-20-year-low-amid-war-in-ukraine.md) | -2.0% | -0.6% |
| EURUSD | 2022-04-27 | [Euro slides to five-year low on Russian energy supply, slowdown fears](https://feedsoft.ai/events/8287-euro-slides-to-five-year-low-on-russian-energy-supply-slowdown-fears.md) | -1.2% | +0.8% |
| EURUSD | 2022-03-01 | [Euro falls to lowest since June 2020 as Russia's invasion of Ukraine picks up](https://feedsoft.ai/events/8259-euro-falls-to-lowest-since-june-2020-as-russia-s-invasion-of-ukraine-picks-up.md) | -3.2% | -2.2% |
| EURUSD | 2022-02-25 | [Euro tries to recover after tumbling on Russian invasion of Ukraine - Markets - Business Recorder](https://feedsoft.ai/events/9837-euro-tries-to-recover-after-tumbling-on-russian-invasion-of-ukraine-markets.md) | -0.9% | -1.3% |
| EURUSD | 2022-04-26 | [Bleeding euro falls to 2-year low \| MarketPulse by OANDA Group](https://feedsoft.ai/events/8290-bleeding-euro-falls-to-2-year-low-marketpulse-by-oanda-group.md) | -1.7% | -0.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/us/russian-gas-cut-pushes-euro-toward-new-lows-2022-09-05/

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