Eurozone policymakers are indicating that more easing could be in the future. An ECB meeting is scheduled for next week, and the odds that even looser monetary policy is coming are higher than ever.
The euro is the currency used by institutions of the European Union and 17 of 27 nations of the Union, which is collectively called the eurozone. The currency is also often used in some other countries, including those that are situated near the borders of the eurozone. The currency was officially adopted in 1995, introduced in financial markets in 1999, while coins and banknotes were released in 2001. It is the second popular reserve currency after the US dollar.
Euro News Archive
Euro is heading much lower today, dropping as the latest inflation reading prompts policymakers to talk about easing further at the next ECB meeting. Concerns about the economic recovery of the 19-nation currency region are once again paramount for many traders.
Euro is losing ground from earlier, thanks in large part to the latest inflation report, which was downwardly revised for January. After the release of the new information, the 19-nation currency is struggling.
The euro continued to slide against its most-traded peers as concerns about the potential Brexit and economic stagnation in the eurozone undermined the strength of the currency. As one could expect, the shared 19-nation currency fared better that the Great Britain pound that has been the weakest major currency this week so far.
Euro is heading lower today, thanks in part to weaker economic data and lower gold prices. Also contributing to a lower euro is the concern brought about by a potential UK exit from the European Union.
Euro is succumbing to pressure right now in Forex trading, moving lower against its major counterparts. There isn’t a whole lot to support the euro against other currencies, and, in fact, policymakers are hoping for a lower euro.
The euro fell against the US dollar and the Japanese yen but gained on other most-traded counterparts today. The economic sentiment both in Germany and the whole eurozone deteriorated this month yet was better than analysts had predicted.
The euro rallied versus safe currencies, like the Japanese yen and the Swiss franc, but fell against other most-traded currencies today amid the positive market sentiment.
Euro is finally pulling back against many of its other currencies, dropping as Forex traders consider that the ECB will need to make a move soon.
Euro is heading higher today, even though global stocks are falling and there is some risk aversion entering the markets. Gold prices are on the rise, though, and that seems to be providing a bit of a boost to the 19-nation currency.