Philip Lane — News Archive

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Euro Rallies Despite Gloomy News From Across the Euro Area

The euro today rallied higher against the US dollar despite the mostly negative news coming out of the eurozone earlier today amid empty economic dockets. The EUR/USD currency pair inched higher as European countries moved closer to reopening their economies despite the significant risk of a second wave of COVID-19 infections.

Euro Ignores Upbeat German Data, Falls on Positive US Reports

The euro today fell against the US dollar negating yesterday’s gains as investors sold the single currency given the weak data coming out of the eurozone recently. The EUR/USD currency pair fell amid a lack of significant releases from the euro area, leaving the euro at the greenback’s mercy, which was quite strong and pushed the pair lower.

Euro Range-Bound on German GfK Survey Data, Trade Headlines

The euro today traded sideways against the US dollar in a low-volatility market environment amid a lack of any significant fundamental triggers. The EUR/USD currency pair barely moved after the German GfK survey as investors waited for developments from the US-China trade talks.

Euro Falls on Weak Eurozone Retail Sales Amid Thin Holiday Trading

The euro today fell against the US dollar following the release of weak retail sales data for the euro area amid a subdued market environment. The EUR/USD currency pair traded in a tight range for most of today’s session as US markets remained closed for the Independence Day celebrations.

Euro Soft on Poor Manufacturing PMIs, Prospects for Stimulus

The euro was extremely weak today, falling against most of its major peers. One of the possible reasons for the slump was largely poor macroeconomic data released in the eurozone on Monday. Another one were comments from European Central Bank officials, which signaled that the ECB is ready to introduce more stimulus.

EUR/USD Rallies Higher on Trump Firing Rex Tillerson

The EUR/USD currency pair today rallied to new highs after President Trump fired Rex Tillerson as Secretary of State and nominated Mike Pompeo the CIA Director as his replacement. The pair was on an uptrend from the early European session after the European Central Bank‘s Governing Council member, Philip Lane hit the wires stating that the bank was not worried about the euro’s current level.

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