Euro is struggling to overcome earlier losses today, thanks to concerns about the periphery, sparked by the latest news out of Portugal. While the euro hit a five-week low against the US dollar earlier in the session, the 17-nation currency is struggling back toward the break-even point, paring its earlier losses.
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 latest economic data out of the eurozone, showing that unemployment rose for yet another month, doesn’t seem to be slowing the euro down much in trading. The 17-nation currency is gaining against its major counterparts, thanks in large part to the risk appetite that seems to be showing as we kick off a new month, and the start of the second half of the year.
Euro is gaining ground today, heading higher, even though there are still deep issues that need sorting out in the eurozone, and even though a measure of contraction is still expected for the 17-nation currency region.
Euro is getting a boost today, thanks in part to the latest confidence report out of the eurozone. Also helping the situation for the euro is the fact that there has been some improvement in Germany’s numbers as well. If consumers are getting ready to spend, and if things are improving in Germany, there is a chance that the eurozone could start moving out of recession.
Bonds in the euro area are on the rise, and the euro is losing ground, thanks to the latest remarks by Mario Draghi. He’s promised to keep monetary policy accommodative, and that means a lower euro for now.
Euro saw some gains earlier, but those have been largely erased as the 17-nation currency heads lower on the reality that banking union plans are far from being settled, and as durable goods orders in the United States rise.
Euro is heading lower today as risk aversion makes an appearance. China’s stocks slid unexpectedly, and many are starting to look at the emerging markets in the eurozone as problem areas. With bond yields on the rise in the periphery, there are concerns of yet another eurozone crisis.
Euro is heading lower today, dropping as risk aversion sets in, and as the dollar dominates the markets. Uncertainty over the eurozone, combined with the expectation that the Fed will end quantitative easing relatively soon, is sending the 17-nation currency lower against the greenback today.
The euro slumped against the US dollar as Federal Reserve Chairman Ben Bernanke said that the central bank will likely reduce stimulus by the end of the year. The currency was firm against some other majors, including the Great Britain pound and the Japanese yen.
The most important event this week for the Forex market is US Federal Reserve policy meeting on June 19. Traders look for guidance about future Fed monetary policy. There will also be some events important specifically to the euro.