The most important event this week for the Forex market is US Federal Reserve policy meeting on June 19. Traders look for guidance about future Fed monetary policy. There will also be some events important specifically to the euro.
Central Bank: European Central Bank
Interest Rate: 0.50%
Trade Balance, 2010: -$209 bln.
Inflation, 2011: 3%
Global reserve currency
Currency of international trade
Main objective of the European Central Bank is price stability
Factors of Weakness
Fiscal troubles of the member-countries
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
June 17th, 2013 at 16:23
Earlier today, a member of the European Council proclaimed the euro “safe” and the eurozone economy on the road to recovery. Euro is a little lower against the dollar following this announcement, but this probably has more to do with profit taking after a recent run by the 17-nation currency.
June 13th, 2013 at 12:56
Euro is struggling today with everything that is happening in the eurozone right now. There’s a great deal of uncertainty, and a lot happening related to bailout efforts and plans to keep the euro solvent.
June 12th, 2013 at 13:47
Euro is struggling today, heading lower after the latest industrial production report for the eurozone. Concerns about what’s next for the 17-nation currency are still extent, and that is dragging on performance today.
June 11th, 2013 at 14:49
Euro is trading mixed today as focus shifts from Asia to the eurozone, specifically Germany. There are a couple of key arguments coming before German courts, regarding ECB measures to shore up ailing eurozone countries, and many are interested to see how things are likely to play out.
June 08th, 2013 at 11:57
The euro had a stellar week against the US and Australian dollars, but performance against some other currencies, including the Great Britain pound and the Japanese yen, was less impressive.
June 07th, 2013 at 14:01
Euro is heading lower today, pulling back after yesterday’s bounce. Once again, Forex traders are looking to the future, and wondering if — perhaps — Mario Draghi’s optimism yesterday was a bit overdone.
June 06th, 2013 at 13:43
The euro surged today after the European Central Bank left interest rates unchanged and voiced optimism about future economic developments in the eurozone.
June 05th, 2013 at 14:43
Risk aversion is back in vogue today, and that is weighing on the euro today. Indeed, euro is a little lower ahead of tomorrow’s expected ECB policy announcement. Forex traders are waiting to see what the ECB will announce tomorrow.
June 04th, 2013 at 15:39
Euro , US Dollar
Euro is moving between gains and losses against the US dollar today. Trading has been choppy as Forex traders try to work through some of the uncertainty surrounding the two currencies.