U.S dollar almost equal to Euro

[bitzizzix]

Much of the dollar's strength is due to concerns that Europe is in trouble to refuel for the coming winter due to the Russo-Ukrainian war, while the US has its own fuel and the rest is anticipation of a rate hike.
the fuel crisis in Europe could cause an instant recession there and while the US economy is still heating up.
and the conflict hit Russia because it couldn't buy and sell many products from Europe and to Europe, but it turns out that conflicts are more common in European countries.
surely many people may not think this can happen because so far the euro has been designed in such a way that its value is higher than the dollar, but this can all happen due to several factors and apart from European political uncertainty, war as well.

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[amishmanish]

West started it all by offering NATO membership to Ukraine. What followed is food crisis, oil crisis, inflation, rise in federal rates, and now we are staring at impeding recession. Ukraine has already lost so much. Where is NATO now.

[Ultegra134]

West started it all by offering NATO membership to Ukraine. What followed is food crisis, oil crisis, inflation, rise in federal rates, and now we are staring at impeding recession. Ukraine has already lost so much. Where is NATO now.

The energy crisis had already started from September/October, before the war begun, which also fueled inflation. However, the war quickly triggered the acceleration of a pre-existing situation. Europe got itself into trouble by imposing sanctions on Russia, while it was dependent on its oil and gas. USA on the other hand, as the previous poster mentioned, has their own reserves and didn't get screwed over that much. The whole situation has now backfired with the only victim being Europe and its citizens.

The worst is yet to come, with Russia steadily progressing on Ukrainian soil.

[GeorgeJohn]

West started it all by offering NATO membership to Ukraine. What followed is food crisis, oil crisis, inflation, rise in federal rates, and now we are staring at impeding recession. Ukraine has already lost so much. Where is NATO now.

I don't have to say much into this because I quite know even though Ukraine got lost into the conflict all the crisis between Ukraine and Russia at least Ukraine has met and their invention and their demand known to the society. I believe that even though the crisis end or ended bye Ukraine not having or landing to their own obligation, at at least they be respected.

[Sithara007]

The energy crisis had already started from September/October, before the war begun, which also fueled inflation. However, the war quickly triggered the acceleration of a pre-existing situation. Europe got itself into trouble by imposing sanctions on Russia, while it was dependent on its oil and gas. USA on the other hand, as the previous poster mentioned, has their own reserves and didn't get screwed over that much. The whole situation has now backfired with the only victim being Europe and its citizens.

The worst is yet to come, with Russia steadily progressing on Ukrainian soil.

From what we have seen so far, the sanctions against Russia have hurt the EU more than anyone else. The Americans are actually profiting from the sanctions, as they are now a net-exporter of oil and gas. China is also profiting from the sanctions, both politically and economically. And for the EU, the negative impact is going to be for the long term. Their industries won't be competitive without cheap Russian gas, which will be re-routed to Asia in the medium to long term. Alternate supplies such as Qatari LNG will be much more expensive and that will doom the heavy industries.

[Don Pedro Dinero]

From what we have seen so far, the sanctions against Russia have hurt the EU more than anyone else.

This is pathetic, actually, you sanction someone and you end up worse than him. Germany, which with its green policy closed its nuclear power plants while China did not stop opening them, now goes back to burning coal, and it is not the only one:

Germany fires up coal plants to avert gas shortage as Russia cuts supply

[Lucius]

From what we have seen so far, the sanctions against Russia have hurt the EU more than anyone else. 

The war is happening on European soil and there is no escaping that fact, but as things stand now, the EU will pay the highest price because it did not find alternatives in time that could at least to some extent be compared to cheap Russian energy sources. At this moment, the question arises why they became so dependent on Russia, especially since they saw what happened in 2014 and in 8 years they did nothing to find alternative solutions.

I would say that there are many domestic traitors within the EU, and that some foreign countries that want to weaken and break up the EU also played a big role in what is happening. Phase 1 - Brexit, phase 2 - war in Ukraine, phase 3 - bringing to power politicians with anti-EU views.

[pooya87]

the question arises why they became so dependent on Russia, especially since they saw what happened in 2014 and in 8 years they did nothing to find alternative solutions.

Because EU has zero independence, all their policies are written by United States and they just follow it like slaves.

Take the situation with gas for example, Iran has more gas than Russia, there is even a very high success rate when exploring for more. Despite all that and the fact that EU members stating they won't follow the US sanctions, even during the sanction removal in 2015 they never really buy Iran's gas/oil simply because they were ordered not to by US. There were even plans to connect a pipeline from Iran all the way to EU like NordStream but again the orders came down and they obeyed

Today it is too late to undo 4 decades of bad decisions...

[stompix]

I would say that there are many domestic traitors within the EU, and that some foreign countries that want to weaken and break up the EU also played a big role in what is happening. Phase 1 - Brexit, phase 2 - war in Ukraine, phase 3 - bringing to power politicians with anti-EU views.

Oh, and who could that foreign country! be?  
The one that was always afraid of a strong Europe because it knew in a case of conflict with a united Europe they would get their ass handed to them?
The country that fears Europe as the only times it has been able to defeat a major European superpower it was because it received help from another?

Who else but Russia with its glorious history of defeating Napoleon (which actually never happened since the Russian never defeated Napoleon in battle, neither at Borodino, neither at Maloyaroslavets or Smolensk) fast forward bypassing the loss of Crime to Napoleon the third, the defeats inflicted by Japan and the catastrophic ww1, to ww2 where they only manage to survive because again they were facing a single superpower and had backup from two of them.

Why would the US fear Europe, why would it want to weaken its most reliable ally, and why would you want a poor friend? It's pretty clear who the ones trying to destroy Europe are, and they use the same propaganda, the US is the warmonger that seeks to keep the EU as a vassal, and so on.

Remember how you took the bait of the warmongering US and the forgot what cereals for breakfast episode?
That's how it works, and many people right on this forum are no strangers to this.

And for the EU, the negative impact is going to be for the long term. Their industries won't be competitive without cheap Russian gas, which will be re-routed to Asia in the medium to long term. Alternate supplies such as Qatari LNG will be much more expensive and that will doom the heavy industries.

When do you say long term you mean after the conquest of Ukraine which according to some self-nominated strategist happened in May?
 

[Ultegra134]

It's not too relevant to EUR/USD rate of exchange, but the Russian Nord Stream gas supply has been restored today, after a 10-day pause for maintenance., resulting in a drop in oil and gas prices. Europe hadn't ruled out the possibility that Russia may stop gas flows via Nord Stream permanently, once the maintenance was over. Orders have now resumed at 40% of its capacity. Hopefully, that may relieve the oil market and European consumers a tiny bit, not lifesaving but still an improvement.

Source: https://oilprice.com/Energy/Gas-Prices/Russia-Restarts-Nord-Stream-Gas-Supply-To-Europe.html

[BCwinning]

It's not too relevant to EUR/USD rate of exchange, but the Russian Nord Stream gas supply has been restored today, after a 10-day pause for maintenance., resulting in a drop in oil and gas prices. Europe hadn't ruled out the possibility that Russia may stop gas flows via Nord Stream permanently, once the maintenance was over. Orders have now resumed at 40% of its capacity. Hopefully, that may relieve the oil market and European consumers a tiny bit, not lifesaving but still an improvement.

Source: https://oilprice.com/Energy/Gas-Prices/Russia-Restarts-Nord-Stream-Gas-Supply-To-Europe.html

russia couldn't afford to keep it offline any longer. lol but yea I can see Russia shutting it down again especially as a pressure move come this fall.
Nothing like creating some panic on the market and drive prices up that benefit you.

[kryptqnick]

While the difference between Euro and Dollar wasn't huge, I was also very used to there being a certain difference, which makes the current situation quite weird. It's not surprising that there are significant economic issues, as Covid was hard, and now there's Russia's war, but also because even prior to Covid the timing was expected to be nearing an economic recession. And since the US is stronger than the EU, it's not surprising that it's experiencing smaller issues. IMO, though, we won't see anything very significant later on with dollar and euro. Euro fell, sure, but I don't think it will go below dollar, at least not significantly so.

[BIT-BENDER]

The Russian Oil saga should be one that I believe dialogue can solve, there is a bit of bad blood from other countries that rely on Russia for oil and Russia themselves, countries like that may claim to not needing Russia anymore it the honest truth is they do and so does Russia too. If a harmonious dialogue can happen and both parties air their opinion I this an agreement can be reached that would be beneficial for everyone and even help euro out of recession.

[Ultegra134]

It's not too relevant to EUR/USD rate of exchange, but the Russian Nord Stream gas supply has been restored today, after a 10-day pause for maintenance., resulting in a drop in oil and gas prices. Europe hadn't ruled out the possibility that Russia may stop gas flows via Nord Stream permanently, once the maintenance was over. Orders have now resumed at 40% of its capacity. Hopefully, that may relieve the oil market and European consumers a tiny bit, not lifesaving but still an improvement.

Source: https://oilprice.com/Energy/Gas-Prices/Russia-Restarts-Nord-Stream-Gas-Supply-To-Europe.html

russia couldn't afford to keep it offline any longer. lol but yea I can see Russia shutting it down again especially as a pressure move come this fall.
Nothing like creating some panic on the market and drive prices up that benefit you.

Russia has recorded huge profits due to Europe's sanctions, which drove oil prices to skyrocket. On top of that, they've also resorted in finding other markets to sell their oil, such as India and China. The only losing party is Europe, not Russia, we're the ones getting screwed over by the excessive fueling costs.

[coupable]

West started it all by offering NATO membership to Ukraine. What followed is food crisis, oil crisis, inflation, rise in federal rates, and now we are staring at impeding recession. Ukraine has already lost so much. Where is NATO now.

The problem is not the responsibility of NATO, but the United States in particular, hiding behind NATO, since the countries affected by the collapse of the euro price are also members of NATO. The United States is a major beneficiary of the Ukrainian crisis and may begin to provide alternatives to what Russia provides after forcing the European Union countries to impose sanctions on Russia as if this would weaken it or save Ukraine. The euro is only the beginning of the crisis, awaiting further collapses.

[Hispo]

-snip-

-snip-

Russia has recorded huge profits due to Europe's sanctions, which drove oil prices to skyrocket. On top of that, they've also resorted in finding other markets to sell their oil, such as India and China. The only losing party is Europe, not Russia, we're the ones getting screwed over by the excessive fueling costs.

Due to the high population density it makes sense that India and China are clear alternative markets for Russian energy. China buying Russian gas/oil is something I saw coming, but something I did not expect was India taking this opportunity as well.  As far as I knew India has a quite stable diplomatic and economical relations with the USA, I would have guessed they would join the boycot. 

[Ultegra134]

-snip-

-snip-

Russia has recorded huge profits due to Europe's sanctions, which drove oil prices to skyrocket. On top of that, they've also resorted in finding other markets to sell their oil, such as India and China. The only losing party is Europe, not Russia, we're the ones getting screwed over by the excessive fueling costs.

Due to the high population density it makes sense that India and China are clear alternative markets for Russian energy. China buying Russian gas/oil is something I saw coming, but something I did not expect was India taking this opportunity as well.  As far as I knew India has a quite stable diplomatic and economical relations with the USA, I would have guessed they would join the boycot. 

Russia sold discounted crude oil, selling at a 20% discount on one of its worse price rallies. It was expected that other countries would bite, which lead to billions in revenue for Russia.

Crude oil is seeing a slight decline in its value, however, as long as the EUR/USD rate of exchange remains close to parity, we won't see major drops at the pumps.

[dothebeats]

Russia has recorded huge profits due to Europe's sanctions, which drove oil prices to skyrocket. On top of that, they've also resorted in finding other markets to sell their oil, such as India and China. The only losing party is Europe, not Russia, we're the ones getting screwed over by the excessive fueling costs.

Due to the high population density it makes sense that India and China are clear alternative markets for Russian energy. China buying Russian gas/oil is something I saw coming, but something I did not expect was India taking this opportunity as well.  As far as I knew India has a quite stable diplomatic and economical relations with the USA, I would have guessed they would join the boycot. 

India only has negative relationship with China but not Russia. I kinda expected them to bite in on the oil bargain by the Russians. They needed that quick profit, and what can the US and its allies do anyway? They can just call out India for the said behavior but that's about it. Profits are already realized for Russia, and it looks like everything is business as usual, too, for US and EU by looking for other oil sellers in the form of the Middle East and Africa.

[sovie]

Russia has recorded huge profits due to Europe's sanctions, which drove oil prices to skyrocket. On top of that, they've also resorted in finding other markets to sell their oil, such as India and China. The only losing party is Europe, not Russia, we're the ones getting screwed over by the excessive fueling costs.

Due to the high population density it makes sense that India and China are clear alternative markets for Russian energy. China buying Russian gas/oil is something I saw coming, but something I did not expect was India taking this opportunity as well.  As far as I knew India has a quite stable diplomatic and economical relations with the USA, I would have guessed they would join the boycot. 

India only has negative relationship with China but not Russia. I kinda expected them to bite in on the oil bargain by the Russians. They needed that quick profit, and what can the US and its allies do anyway? They can just call out India for the said behavior but that's about it. Profits are already realized for Russia, and it looks like everything is business as usual, too, for US and EU by looking for other oil sellers in the form of the Middle East and Africa.

India played a very good game.They supported America and then they got the oil from Russia as well.
I must appreciate the Indian government for playing dule game and also since India is American Allie they always support Indian Govermnet

[Hispo]

Russia has recorded huge profits due to Europe's sanctions, which drove oil prices to skyrocket. On top of that, they've also resorted in finding other markets to sell their oil, such as India and China. The only losing party is Europe, not Russia, we're the ones getting screwed over by the excessive fueling costs.

Due to the high population density it makes sense that India and China are clear alternative markets for Russian energy. China buying Russian gas/oil is something I saw coming, but something I did not expect was India taking this opportunity as well.  As far as I knew India has a quite stable diplomatic and economical relations with the USA, I would have guessed they would join the boycot. 

India only has negative relationship with China but not Russia. I kinda expected them to bite in on the oil bargain by the Russians. They needed that quick profit, and what can the US and its allies do anyway? They can just call out India for the said behavior but that's about it. Profits are already realized for Russia, and it looks like everything is business as usual, too, for US and EU by looking for other oil sellers in the form of the Middle East and Africa.

What is the point of sanctions against Russian oil/energy if India is allowed to buy and process their oil?
What if India uses cheap Russian oil to refine and manufacture products derivated from oil to export towards allies like USA?
It does not make much sense, because indirectly Russian Oil still have place withtin the market of USA and their western allies.

I am surprised Biden's administration have not seriously called out Modi's.