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Euro EUR
Central Bank: European Central Bank
Interest Rate: 0.00%
Public Debt to GDP Ratio, 2016: 88.9%
Trade Balance, 2017: $238.1 bln.
Inflation, 2017: 1.5%
Global reserve currency
medium
Currency of international trade
weak
Main objective of the European Central Bank is price stability
Quantitative easing
strong
Decentralization
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.
The euro today traded in a stable rage against the US dollar as investors revised their expectations of a rate hike by the ECB. The single currency was not appealing to investors who have had to deal with weak data releases from the eurozone and a dovish European Central Bank.
The euro today traded in a tight range against the US dollar amid a market that was largely stable and lacked volatility. The release of upbeat data from the US docket in the early American session saw the EUR/USD currency pair come under intense selling pressure.
The euro today dropped significantly against the US dollar from the early European session after attempting to rally higher during the Asian session. The single currency’s decline was initially triggered by the US dollar’s rebound before the weak German GDP data caused it to crash to new weekly lows.
The euro was mixed today following the release of lackluster macroeconomic data in the eurozone. The currency gained on the US dollar, which remained extremely soft, but was flat versus the Great Britain pound and fell against safe currencies like the Japanese yen and the Swiss franc.
The euro today rallied higher against the US dollar in the early Asian session following yesterday’s dovish FOMC minutes and Fed comments. The single currency soon headed lower as the US dollar staged a rebound boosted by the risk averse market sentiment as the optimism around the US-China trade talks faded.
The euro today spiked higher in the early American session following dovish comments by Atlanta Fed President Raphael Bostic, which drove the US dollar lower. The EUR/USD currency was range bound for most of today’s session despite the release of several macro prints from across the eurozone.
The euro today dropped against the US dollar from the start of today’s session as the greenback rebounded on investors’ hopes about the outcome of the US-China trade talks. The rebound in US Treasury yields also boosted the greenback, which was under intense selling pressure since Friday last week following dovish Fed comments.
The euro today rallied higher against the much weaker US dollar largely driven by positive market sentiment and the upbeat German retail sales data. The improved market risk sentiment was supported by investors’ optimism regarding the 2-day high level US-China trade talks, which kicked off today.
The euro today largely traded sideways against the US dollar following yesterday’s significant recovery from lows last witnessed in mid-December. However, despite the recovery, analysts are still predicting that the euro is likely to be in a bearish trend for most of January.
The euro today was on a recovery path following yesterday’s “flash crash” that was triggered by Apple’s profit warning based on the economic slowdown in China. The EUR/USD was also under pressure due to the decline in German bond yields and the placing into administration of an Italian bank by the ECB.
