Euro is a little higher today, thanks in part to soft US data. Trading is a little thin today because of the Easter Monday holiday in Europe.
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
Analysts and traders have been expecting the euro to drop for quite some time now. Forecasts for a lower euro have not been met, as the 19-nation currency continues to show resiliency. Today, though, the euro finally appears to be showing signs of weakness.
Euro is still trading relatively strong against most of its major counterparts. Even though the 19-nation currency is down against the dollar today, it isn’t down by very much and it is largely holding its ground. Much of this has to do with the fact that ECB policymakers are finding it difficult to continue to talk the euro down.
Euro is a little lower across the board today after remarks from Peter Praet. Indications from Praet seem to contradict the decision announced by ECB last week. The euro is weaker, but it is not below the general range that it has been trading in for the last few months.
Euro is trading mixed today, heading lower against the dollar by gaining against the yen and pound. For the most part, European policymakers are waiting for the Fed to make a move. As long as the Federal Reserve doesn’t raise rates, moves by the European Central Bank are less effective.
The most important event for the past trading week was considered to be the policy meeting of the European Central Bank, and it indeed did not disappoint, both fulfilling market expectations and surprising markets at the same time.
Today’s trading session was very volatile for the Forex market due to the monetary policy meeting of the European Central Bank. The euro sank immediately after the gathering but bounced afterwards.
Euro is a little lower today, thanks in large part to expectations that the European Central Bank will actually have to take steps to stimulate the eurozone economy this week. However, the losses to the euro are limited, as some of these expectations have been priced in, and so far the ECB has failed to deliver on its threats.
Euro is seeing some gains today, surging ahead, even though the US just posted solid jobs report for February and there are still downside risks to the 19-nation currency.
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.