Earlier, the euro rallied in relief as Germany announced an agreement to form a governing coalition. Concerns about Germany had weighed on the 17-nation currency, but a rally took over. Now, though, that rally is fading and the euro is heading down against some of its major counterparts.
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
Euro is heading higher today, logging gains against its major counterparts. Forex traders are waiting for speeches from ECB Executive Board members, and there is also anticipation for inflation numbers set to be released on Friday. Clues about where the euro could be headed next are likely coming.
Euro has been doing reasonably well recently, thanks to a bit of risk-on trading and some optimism. Now, though, the brakes have been applied. Euro is losing ground as comments from an ECB board member indicates that another rate cut could be on the way.
The euro rose on the last trading session of the week as German business climate improved and the German economy grew, leading to hopes about economic recovery in the rest of the eurozone.
The euro jumped against the US dollar and the Japanese yen today on signs that the head of the European Central Bank does not consider implementing negative interest rate yet. The currency sank versus the Great Britain pound.
The euro was higher today as European Central Bank members hinted that the bank has options to battle low inflation. The currency reached the highest level since November 2009 against the Japanese yen.
Euro is heading higher today, making progress as risk appetite improves. With traders looking for higher yields, the euro is getting a little help, even after the recent rate cut from the ECB. Good news out of China, plus the reluctance of the Federal Reserve to slow its stimulus efforts.
Euro is mixed today as Forex traders await data. Many are interested in what the revised CPI data will show for October, and there are concerns about what’s next for the eurozone economy moving forward.
Euro is struggling today, mainly due to disappointing economic data. The latest GDP numbers are in, and they show that the eurozone recovery is barely hanging on. It’s not helping, either, that German and France are having their own economic struggles right now. There’s little to support the euro, and there are concerns that another recession could be coming.
The latest news out of the eurozone is weighing on the euro, sending the 17-nation currency lower against its major counterparts today. Once again, concerns about the viability of the recent eurozone recovery are causing problems for the euro on the Forex market.