Global Markets on Edge: Euro Resilient Against $100 Oil as ECB Decision Looms

12:28 - 10.09.2026


September 10, Fineko/abc.az. Major global currencies stabilized on Thursday as crude oil futures held firmly above $100 per barrel following escalated attacks on shipping lanes. The Euro hovered near a two-week peak at $1.1639 ahead of an expected rate hike by the European Central Bank (ECB) to curb mounting energy-driven inflation.

Spiraling heating oil and gas prices ahead of the European winter have pushed global bond yields to multi-decade highs. Markets are currently pricing in a 60% probability of a U.S. Federal Reserve rate hike later this month. Meanwhile, the Japanese Yen has gained over 6% since late-July interventions, trading near seven-month highs as safe-haven flows rebalance across major trading desks.