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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, 2018: 1.8%
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 haphazardly against the US dollar oscillating between gains and losses as investors reacted to conflicting news reports about Germany’s fiscal policies. The EUR/USD currency pair rallied briefly then fell and later inched higher as the single currency failed to post sustained gains against the weak greenback.
The euro declined today against other most-traded currencies as markets remained in the grip of coronavirus epidemic fear, which made traders less willing to risk and prefer safer currencies to riskier ones. Germany released a report on its economic growth during today’s session but markets largely ignored it.
The euro today gapped lower against the US dollar to start of the week trading with a bearish bias amid the risk-off market sentiment created by coronavirus headlines. The EUR/USD currency pair oscillated between gains and losses during today’s session as bears fought to control the pair’s price despite the upbeat German macro reports.
The euro today spiked higher against the US dollar in the early European session following the release of upbeat eurozone PMIs by Markit Economics. However, the EUR/USD currency pair’s rally was short-lived since the pair fell shortly afterwards after news of rising coronavirus infections in South Korea damped investor risk appetite.
The euro today traded at multi-year lows against the US dollar despite the release of positive German macro reports in the early European session. The EUR/USD currency pair fell to lows last witnessed in April 2017 after the results of the last French election were announced.
The euro today fell against the US dollar during the European session following the release of weak German ZEW survey data early in the session. The EUR/USD currency pair traded at 34-month lows as the coronavirus headlines continue to dampen investor risk appetite.
The euro today continued to trade near 3-year lows against the US dollar after the release of mixed GDP data from Germany and the greater euro area. The EUR/USD currency pair extended its losing streak, which has been in place since the start of the year, as the risk-off sentiment dominated the markets in the face of the coronavirus outbreak.
The euro was weak today, falling for the sixth consecutive day to the lowest level in three years against the Swiss franc. Risk aversion caused by an unexpected surge of infected people in China was weighing on the shared 19-nation currency, while eurozone macroeconomic data was not helping as well.
The euro today traded sideways against the US dollar before falling to its daily lows in the mid-European session driven by the prevailing risk-off market sentiment. The EUR/USD currency pair recovered and rallied higher in the early American session following the release of the ECB Governor Christine Lagarde‘s testimony.
The euro today fell to new 2020 lows against the much stronger US amid a risk-off market environment dominated by headlines of new coronavirus infections. The EUR/USD currency pair’s decline was accelerated by Friday’s positive US non-farm payrolls report, which showed diverging performance between the two economies.
