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Euro Hits New 2021 Lows Against Dollar Despite Surge in Global Equities

The euro fell to new yearly lows against the much stronger US dollar as the US Senate passed President Joe Biden’s stimulus bill with minor changes. The weak investor sentiment further fueled the EUR/USD currency pair’s decline as investors remained cautious, expecting the ECB to intervene in the markets.

Euro Weak Before Week of ECB Decision

The euro was weak today, falling against the vast majority of its most-traded peers. US nonfarm payrolls did not have a lasting impact on the currency. While the euro sank sharply immediately after the release of US employment data, the shared 19-nation currency rebounded quickly just to resume the gradual decline it has been experiencing throughout the trading session.

Euro Falls on Dovish ECB Member Comments, Ignores PMIs and Weak US Data

The euro fell against the dollar after inching higher initially fueled by positive PMI data from the euro area before heading lower as investor sentiment shifted. The EUR/USD currency pair’s decline was fueled by dovish comments from European Central Bank policymakers who spoke in favour of more stimulus.

Euro Rallies Despite Weak German Retail Sales, Buoyed by Dovish Fed Speeches

The euro initially fell against the dollar on weak investor sentiment combined with disappointing retail data from Germany but later recovered and rallied higher. The EUR/USD currency pair rallied higher despite dovish comments from European Central Bank policymakers who dislike the rising euro area bond yields.

Euro Falls Despite Upbeat Euro Area Inflation Reports and Flash PMIs

The euro fell against the dollar despite a slate of positive inflation reports from Germany and Italy as investors sold the single currency. The EUR/USD currency pair fell to its daily lows in the early European session and traded sideways for the rest of the day.

Euro Rises to 6-Week Highs on Upbeat Euro Area Data, Risk-On Sentiment

The euro soared against the dollar amid a series of upbeat macro releases from across the euro area combined with the positive investor sentiment. The EUR/USD currency pair’s rally was also boosted by positive comments from a senior European Central Bank policymaker and the dollar’s weakness.

Euro Edges Higher on German GDP, Later Falls on Soaring US Yields

The euro initially edged higher against the dollar, boosted by investor sentiment and positive data from Germany, before reversing and heading lower later in the session. The EUR/USD fell as US Treasury yields soared, lifting the dollar despite the Fed chair Jerome Powell’s dovish stance on the central bank’s monetary policies.

Euro Drops Against Dollar, Spikes Higher on Powell Speech, Later Falls

The euro fell against the resurgent US dollar ignoring in-line euro area releases, as US Treasury yields remained stable during the first half of today’s session. The EUR/USD currency pair spiked higher during Jerome Powell‘s speech but later fell despite the Fed chair reiterating the bank’s accommodative stance.

Euro Strong After German Business Climate Jumps Sharply

The euro was strong against most other currencies today except for the top performers — the Australian and New Zealand dollars. Macroeconomic data released in the eurozone today was good but it does not seem to be the major reason for the currency’s decent performance.

Euro Rallies Against Dollar on Upbeat German PPI, and Eurozone PMIs

Today, the euro rallied higher against the much weaker dollar, extending yesterday’s gains buoyed by the positive euro area PMI reports released by Markit Economics. The EUR/USD currency pair rallied higher as investor sentiment towards the single currency turned bullish, boosted by the region’s improved COVID-19 vaccine rollout.

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