Pessimism is strong today, and the euro is heading lower as a result. Even a drop in the number of people claiming unemployment in July isn’t helping the euro. The 17-nation currency remains lower as uncertainty prevails, and as signs of growth in the US economy continue to support the greenback.
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 lower today, dropping as economic data weighs on the 17-nation currency, and as concerns over Syria increase risk aversion. Euro is heading lower almost across the board, with Greece being pressured to sell assets and uncertainty over the geopolitical situation.
Euro is struggling today as uncertainty and the latest economic data weigh on the 17-nation currency region. Even though there have been some improvements in the last few weeks, concerns about what’s next are weighing on the euro.
Earlier in the month, there had been talk of a possible rate cut at the next ECB meeting. However, the chances of a rate cut are diminishing, and that is providing help for the euro, even as risk appetite flees in the wake of troubles in Syria.
The euro ended Friday with gains with help of improving eurozone consumer sentiment and growing German economy. The positive data make an interest rate cut by the European Central Bank unlikely.
Euro is struggling to log gains against the US dollar today, following improved economic news and a global stock rally. European stocks are heading higher, after a mixed Asian session, and US stocks are preparing for a higher open. Good news out of the eurozone should provide some support to the euro.
Euro is heading higher today, thanks in large part to position squaring. Many believe that the euro is poised to move higher, thanks to uncertainty wracking the United States and thanks to recent Bundesbank comments.
Euro is higher today, gaining on comments from Germany’s central bank. The idea that the ECB could raise interest rates soon as a curb to inflation has some traders wondering if such a rate hike could be coming. As a result, the euro is moving higher.
Confidence in the euro is growing right now, as evidenced by the increased issuance of euro-denominated debt. With the news that the eurozone has returned to growth after 18 months of recession, and with the debt crisis seemingly under control, confidence in the euro is growing, and the 17-nation currency is getting a little help.