The euro edged higher against some if its major rivals amid the risk-positive market sentiment and news that France’s left-wing forces failed to unite and present a joint candidate in the presidential race. Still, the currency was not particularly strong as negative factors, which were dragging it down previously, did not go away.
Global reserve currency
Currency of international trade
Main objective of the European Central Bank is price stability
Factors of Weakness
Fiscal troubles of the member-countries
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 was almost flat against some other most-traded currencies (like the Great Britain pound and the Swiss franc) and logged a sharp decline against others (including the US dollar and the Japanese yen).
The euro fell against the US dollar today as virtually all economic reports released from the eurozone over the trading session failed to meet market expectations. The shared 19-nation currency also fell against the Swiss franc but fared better versus the Great Britain pound and the Japanese yen.
The EUR/USD currency pair exhibited a bearish trend today given the uncertain political environment in Europe and a weaker US dollar. The currency pair changed insignificantly after the US Department of Labor reported that the number of jobless claims had massively declined and beat expectations.
The euro fell against the majority of its most-traded counterparts as looming elections in several European countries and concerns about Greece’s debt made investors think that it is too risky to invest into European assets.
The euro fell against the US dollar and the Great Britain pound on Monday but has trimmed its losses by now. The currency fared worse versus the Swiss franc and the Japanese yen, keeping its big losses.
The euro gained today on its major counterparts today, soaring 1% against the US dollar, after comments from Peter Navarro, head of US President’s new National Trade Council.
The euro traded lower against its major competitors today after CPI data from Germany was released at a lower than expected figures. The euro’s performance was also affected by the weakening of other currencies such as the US dollar and the British pound, which minimized its decline, but the currency later recovered.
The euro dropped against other major currencies (with the exception of the Japanese yen) today as the US dollar staged a recovery.
The euro was soft intraday due to the unexpectedly weak German business climate but has managed to recover and is trading close to its opening level as of now.