Euro is losing ground today, falling almost across the board against its major counterparts, as the latest economic data disappoints. This time, it’s the construction data weighing on the 18-nation currency.
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
Eurozone’s export data isn’t helping the euro much today, as the 18-nation currency is dropping against most of its major counterparts. Concerns about the eurozone recovery persist, even though exports have increased in the periphery.
Euro is a little lower today, even after the latest factory output data that indicated that industrial production is on the rise. Even with the better than expected news, the euro is still struggling today.
The euro was one the best-performing currencies by the end of 2013, but was experiencing weakness at the start of this year. Can the shared 17-nation currency keep its gains and continue the rally or will it fail under the weight of eurozone problems? Specialists have different take on the matter.
Euro is struggling a bit on the currency market today, following an expected interest rate decision from the European Central Bank. Concerns about growth in the eurozone continue to weigh on the 18-nation currency, and there isn’t a whole lot that can be done to boost the euro until the economy starts to pick up.
Euro is higher today, gaining ground as the latest euro area services reading from Markit Economics indicates continued expansion. The expansion is at a slower rate, true, but it’s still expansion. German stocks are doing well, and Germany in general seems to be doing just fine, leading the eurozone to better growth.
It’s a brand new year, and a new country has joined the eurozone. At midnight local time, Latvia became the 18th country to join the eurozone. The euro is down to start the New Year, with concerns about the eurozone overall, and significant opposition to using the euro in Latvia itself.
As the year draws to a close, the euro continues to gain ground against its major counterparts. Much of the help for the euro comes from comments that another rate cut isn’t likely to be needed to help keep the economy in recovery mode. However, there is also help for the euro from the fact that banks are repatriating funds.
Euro continues on track to be the top performer of 2013 with today’s performance. Much of that has to do with the fact the issues that have been plaguing the 17-nation currency region — from recession to political problems — are mostly resolved. Or at least have been moved to the back burner. For now, the euro continues to see mostly gains against its major counterparts.
Euro is struggling against other currencies right now, mostly lower as other currencies gain the upper hand, thanks to better economic data. Better data reports in the United States and United Kingdom are helping the dollar and the pound.