The euro rose today, extending its rally against the US dollar for the second day. Nevertheless, the currency was heading to a weekly loss against most of its major peers.
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
The euro fell against most currencies today, including the US dollar and the Swiss franc, though not the Japanese yen. The indicators released during the current trading session showed that the economic sentiment deteriorated sharply this month.
Euro is heading lower today, dropping on disappointing economic data and concerns that the eurozone will see more slowing. Concerns about the various countries in the eurozone are weighing on the 19-nation currency.
Euro is lower today against the dollar and the pound as concerns about the eurozone economy compare unfavorably to better data coming out of the United States and relief out of the United Kingdom. Euro is heading lower as policy divergence becomes more likely.
Euro is mostly rangebound today as Forex traders and analysts consider data and contemplate the week ahead. The 19-nation currency has been struggling lately, thanks in large part to forecast revisions and data improvements for the US dollar.
The euro fell today even after German economic growth exceeded analysts’ estimate. The problem was the Germany’s deflation was above expectations as well, and on top of that eurozone’s economic growth received a downward revision.
Economist and analysts expect the eurozone economy to slow its rate of growth through the end of 2016, and that is weighing on the euro today. The 19-nation currency is struggling against some of its counterparts.
More discussions about what to do about Greek debt are getting underway, and that is impacting the euro today. The 19-nation currency is trading mixed today, heading lower against the pound and the dollar, but gaining ground against currencies like the yen.
Euro continues to show strength, even though many analysts thought it would be much lower by now. Much of the current strength is likely coming from the fact that the United States probably won’t raise interest rates in the near future.
The euro continues to show strength in currency trading on the FX market, even though stimulus is in effect, and there could be more stimulus on the way for the eurozone. Signs that stimulus efforts are having an impact are providing support for the 19-nation currency, as is the fact that the Federal Reserve has yet to truly commit to policy divergence and raise rates again.