The euro traded within a tight range against the US dollar on Monday. Traders held their positions in anticipation for the European Central Bank’s meeting on Thursday and the presidential inauguration in the US on Friday.
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 euro recovered some of the ground it had lost against major currencies such as the US dollar and the British pound. The euro gained significant ground against the British pound as investors took a bearish approach towards the pound sterling due to fears of a hard Brexit.
The euro rose today, gaining for the third straight consecutive session on the US dollar, amid the news that Italy decided to rescue its third-largest bank.
The euro started today’s trading session by gaining significant ground against the US dollar, but went on to retrace some of its gains later in the day. The euro hit a weekly high against the US dollar based on weak data released from the USA regarding consumer spending and income. The euro’s brief rise was also backed by the economic bulletin released by the European Central Bank today.
The euro has significantly weakened against the US dollar during today’s session following yesterday’s interest rate hike by the Fed. The euro also started the day by gaining ground against the Japanese Yen and the pound sterling as it hit major highs and lows before settling to trade at moderate price levels.
The EUR/USD has risen slightly during today’s trading session as investors wait for the Federal Reserve Bank announcement regarding interest rates. It is widely anticipated that the Fed shall announce an interest rate hike, the first such hike this year. The currency pair also seemed unaffected by other financial data released today.
The euro was among the weakest currencies during the past trading week (though it still managed to outperform the Great Britain pound and the Japanese yen) after the European Central Bank surprised markets, expanding its stimulus program.
The euro extended its decline for the second day during the Friday’s trading session following Thursday’s policy meeting of the European Central Bank. The currency still managed to beat the very soft Japanese yen but fell against other most-traded rivals.
The euro experienced volatile movements against the US dollar on Thursday as investor read into the European Central Bank’s policy announcement earlier today. During its latest policy meeting, the central bank decided to extend the period for which its bond purchase program will last.
The euro fell sharply after the Italian referendum resulted in rejection of proposed reforms and resignation of the country’s leader. Yet the currency bounced even more sharply after markets digested the news.