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Euro (EUR) - BER Currency Guide

In this currency guide we look at :

  1. EUR General Info
  2. EUR Market View
  3. EUR News & Updates
  4. EUR Cross Rates

Euro General Info

The three letter currency code for the Euro is EUR and the symbol is €. It is the domestic currency in Aaland Islands, Andorra, Austria, Belgium, Cyprus, Estonia, Eurozone, Finland, France, French Guinea, French Southern Territories, Germany, Greece, Guadeloupe, Vatican City, Ireland, Italy, Luxembourg, Malta, Martinique, Mayotte, Monaco, Montenegro, Netherlands, Portugal, Reunion, Saint Barthélemy, Saint Martin, Saint Pierre And Miquelon, San Marino, Slovakia, Slovenia and Spain.

The euro (ISO: EUR) is involved in slightly more than 30% of all foreign exchange deals, and as such, is the world’s second most traded currency, behind the US dollar.

The euro is the currency of the eurozone (officially called the ‘euro area’), which consists of 19 of the 28 member states of the European Union, and is used by almost 350 million Europeans. It was introduced in January 1999.

Of all the thousands of exchange rates that exist in the world, the euro-to-US dollar exchange rate is the most actively traded, or most ‘liquid’.

Since its introduction, the euro’s lowest value against the dollar came in October 2000 when EUR/USD hit lows of 0.8231. The currency was strongest in July 2008, shortly before the worst stage of the 2007-2009 financial crisis, when EUR/USD reached 1.6038.

There are currently more than twenty nations and territories which peg their currencies to the euro, the largest of which is Denmark.

EUR - Market View

In May and June, the euro was resurgent following Emmanuel Macron’s victory in May’s French presidential election and an apparent change in tone of the rhetoric coming from the European Central Bank (ECB).

At the end of June, EUR/USD was trading above 1.14 and had gained 6.5% since April 21st – that date being the trading day immediately prior to the French election’s first round of voting, in which Macron pulled in a higher percentage of the vote than the market’s least favourite presidential candidate, Marine Le Pen.

Following Brexit and Trump surprises in 2016, fears that France may also vote the way of populism and nationalism, which might destabilize the eurozone, had weighed heavily on the euro for many months prior to the election.

Adding fuel to the euro rally was ECB president Mario Draghi who in late June appeared to talk up eurozone inflation. He suggested that factors currently weighing on inflation were temporary and that the ECB would look through them when forming its future monetary policy.

Against the British pound and Australian dollar, the euro ended June in the mid-0.87s and mid-1.48s respectively.

For the rest of 2017, the euro will likely be driven by talk of the ECB tapering its bond buying program. Any move to taper would be akin to monetary policy tightening and would be supportive of higher euro exchange rates.

EUR/USD - 01:00 CEST

1 Day  1 Week: Euro finished the last session of the week up against the United States Dollar with the EUR/USD at 1.1663, a rise of 0.31% and also up for the last 7 days with a rise of 2.38%.

3 Month Trend: EUR/USD is touching 3-month highs [Hi:1.1679, Lo:1.0837] and for the quarter is up 7.06%.

Euro - News & Market Updates

Sterling Predicted to Fall 15% Before Year-End and RBA Deputy Cools Australian Dollar

The British pound is set to fall by as much as 15% by the end of 2017 according to Guy Petcho of Voya Investment Management. Petcho, who formerly was a part of George Soros’ investing team, said in an interview with Reuters on Friday that a turn for the worse in UK economic growth will... View article >
Posted on 22 July 2017 | 11:12 am GMT
Author: Joel Wright

Euro – Fri Jul 21: EUR Up vs USD, GBP, AUD & INR and Down vs CHF & CAD.

Euro was friday up 0.26% against the United States Dollar, up 0.1% against the British Pound Sterling, down -0.34% against the Swiss Franc, up 0.83% against the Australian Dollar, down -0.16% against the Canadian Dollar and up 0.09% against the Indian Rupee. EUR 7 Day Cross-Rate Charts Read on for the latest 1-week and 3-month... View article >
Posted on 21 July 2017 | 9:10 pm GMT
Author: BER Research

Loonie Firm Ahead of Inflation Report

USDCAD is hovering around major support (1.2575) ahead of this morning’s May Retail Sales and inflation data.  June CPI is forecast to rise 1.0%.  vs. May 1.3%.  A better than expected number will drive USDCAD toward 1.2510 while a weaker number may get ignored.  The Bank of Canada is willing to look past weak inflation... View article >
Posted on 21 July 2017 | 12:23 pm GMT
Author: Agility Forex

AUD Tumbles as RBA’s Debelle Quashes Hopes of Rate Hike

Pound Sterling (GBP) GBP/USD 1 Week Chart Yesterday’s June UK retail sales figures caused the Pound to slump – despite being much more positive than had been expected. Sales grew 0.9% on the month, against predictions of 0.5%, or 0.6% compared to forecasts of 0.4% if auto fuel sales are removed. However, combined with data... View article >
Posted on 21 July 2017 | 7:52 am GMT
Author: TorFX

Euro – Thu Jul 20: EUR Up vs USD, GBP, CHF, AUD, CAD & INR.

Euro was up 0.95% against the United States Dollar, up 1.34% against the British Pound Sterling, up 0.55% against the Swiss Franc, up 0.93% against the Australian Dollar, up 0.85% against the Canadian Dollar and up 1.17% against the Indian Rupee. EUR 7 Day Cross-Rate Charts Read on for the latest 1-week and 3-month EUR... View article >
Posted on 20 July 2017 | 9:10 pm GMT
Author: BER Research

Yen Falls After BoJ Admit Defeat on Inflation and Can’t Stop Australian Dollar as Currency Approaches 0.80 vs. USD

Officials at the Bank of Japan (BoJ) said today that they were pushing back the time frame for achieving their 2% inflation target to the end of 2019, marking yet another defeat in the bank’s long-term battle against deflation. When the target was introduced by BoJ Governor Haruhiko Kuroda in 2013, it was forecast that... View article >
Posted on 20 July 2017 | 11:04 am GMT
Author: Joel Wright

Will EUR Get a Boost from ECB Meeting Today?

Pound (GBP) GBP/USD 1 Week Chart Appetite for the Pound was soft yesterday, as markets continued to digest UK inflation data and await this morning’s retail sales figures. If the reports do show the forecast recovery in sales during June, this will ease fears that the UK economy will not have been able to rebound... View article >
Posted on 20 July 2017 | 7:57 am GMT
Author: TorFX

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