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Euro Continues to Gain Steam

December 11, 2015 at 15:28 by Miranda Marquit

One euro coin and a chartEuro continues to gain ground today, heading higher against other major currencies. Euro is improving, and some forecasters have revised their expectations for next year’s performance.

Thanks to the latest ECB decision that didn’t live up to expectations for exotic attempts to continue easing, the euro is heading higher right now. Even with somewhat anemic French economic data, the euro is still forging ahead against its major counterparts, even reaching the psychologically important 1.10 level with the US dollar.

After the latest ECB decision, many analysts are changing their forecasts for the euro in the coming months. Many had expected to see parity between the euro and the dollar by the end of 2015, but now some are pushing back those predictions. Barclays is the latest to re-examine its euro forecast.

Many Forex traders are holding some reservations, though. There is a Fed decision coming up, and forward guidance from Janet Yellen will be a key factor in what happens next with the euro, as well as what happens with the US dollar.

At 15:25 GMT EUR/USD is higher, moving up to 1.1004 from the open at 1.0946. EUR/GBP is also higher, gaining to 0.7228 from the open at 0.7220. EUR/JPY is moving up to 133.2560 from the open at 133.0720.

If you have any questions, comments, or opinions regarding the Euro, feel free to post them using the commentary form below.

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