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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 late August, the euro rally was still firmly intact.

The euro received a boost after August’s Jackson Hole symposium at which ECB President Mario Draghi did not talk down the euro or make any reference to ECB concerns over the euro’s significant appreciation against the dollar this year.

EUR/USD rose following Jackson Hole to 1.194 – its highest level since January 2015. This year the euro has made a mockery of fears that it would fall to parity with the dollar. It had been as low as 1.034 in January.

Against the British pound, post-Jackson Hole the euro reached a level unseen since October 2009, at 0.9269.

Such has been the euro’s turnaround that both HSBC and Morgan Stanley have forecast EUR/GBP to reach parity (1.0) within the coming months. Morgan Stanley predicted in August a EUR/GBP exchange rate of 1.02 by the end of March next year. HSBC had already publicly forecast a rate of 1.0 by year-end.

In September, Dutch bank ABN Amro predicted EUR/USD would rise to 1.3 by the end of 2018. As reasons for the pair’s climb, ABN cited “strong conviction” on future US dollar weakness and expectations for the ECB to scale back on quantitative easing.

The euro began rallying strongly in April as Emmanuel Macron’s victory in the French presidential election became clear, which eased EU political fears.

EUR/USD - 03:23 CEST

1 Day  1 Week: Euro was easing down against the United States Dollar with the EUR/USD at 1.1951, a drop of -0.11% but remains up for the last 7 days with a rise of 0.52%.

3 Month Trend: EUR/USD is trading higher in the 3-month range [Hi:1.2052, Lo:1.1194] and for the quarter is up 6.39%.


Euro - News & Market Updates

Moody’s Downgrade the UK and Elections Begin in New Zealand, Germany

US ratings agency Moody’s has downgraded the UK’s credit rating from Aa1 to Aa2 over concerns for the future of the UK’s public finances. The ratings outlook is now “stable”, from “negative”. Moody’s stripped the UK of its AAA rating back in 2013. “The outlook for the UK’s public finances has weakened significantly since the... View article >
Currency:
Posted on 23 September 2017 | 7:13 am GMT
Author: Joel Wright

Euro – Fri Sep 22: EUR Up vs USD, GBP, CAD & INR and Down vs AUD.

Euro was friday even against the United States Dollar, up 0.62% against the British Pound Sterling, even against the Swiss Franc, down -0.33% against the Australian Dollar, up 0.15% against the Canadian Dollar and even against the Indian Rupee. EUR 7 Day Cross-Rate Charts Read on for the latest 1-week and 3-month EUR cross rate... View article >
Currency:
Posted on 22 September 2017 | 9:10 pm GMT
Author: BER Research

Pound Upbeat Ahead of Theresa May’s Brexit Speech

Sterling GBP/USD 1 Week Chart The Pound (GBP) advanced against most of its peers earlier this morning as markets appeared to be cautiously optimistic about Theresa May’s Brexit speech in Florence later this afternoon. Observers expect the Prime Minister to propose a two-year transitional deal, to start at the end March 2019 in order to... View article >
Posted on 22 September 2017 | 9:43 am GMT
Author: TorFX

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

Euro was up 0.4% against the United States Dollar, down -0.22% against the British Pound Sterling, up 0.51% against the Swiss Franc, up 1.7% against the Australian Dollar, up 0.46% against the Canadian Dollar and up 1.21% against the Indian Rupee. EUR 7 Day Cross-Rate Charts Read on for the latest 1-week and 3-month EUR... View article >
Currency:
Posted on 21 September 2017 | 9:10 pm GMT
Author: BER Research

US Dollar Surges as Fed Announces Beginning of Balance Sheet Unwinding

Sterling GBP/USD 1 Week Chart The Pound (GBP) advanced against the majority of its peers yesterday following a better than expected retail sales report. Markets were upbeat as data showed retail sales jumped from an upwardly revised 0.7% to 1% in August, outpacing forecasts that sales growth would have slowed to 0.2% and increasing the... View article >
Posted on 21 September 2017 | 9:11 am GMT
Author: TorFX

Euro – Wed Sep 20: EUR Down vs USD, GBP, CHF, AUD, CAD & INR.

Euro was down -0.99% against the United States Dollar, down -0.73% against the British Pound Sterling, down -0.1% against the Swiss Franc, down -1.06% against the Australian Dollar, down -0.63% against the Canadian Dollar and down -1.07% against the Indian Rupee. EUR 7 Day Cross-Rate Charts Read on for the latest 1-week and 3-month EUR... View article >
Currency:
Posted on 20 September 2017 | 9:10 pm GMT
Author: BER Research

All Eyes on Federal Reserve Ahead of Key Policy Announcements Today

Sterling GBP/USD 1 Week Chart The Pound (GBP) struggled to advance yesterday as rumours circulated that Foreign Secretary Boris Johnson may quit Theresa May’s cabinet in protest over her plans for Brexit. While Johnson was quick to deny these claims, the reports of a split at the top of the Conservative leadership over the government’s... View article >
Posted on 20 September 2017 | 9:21 am GMT
Author: TorFX

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