Today’s trading session brought a big surprise for Forex traders: the European Central Bank cut its interest rate. As one could expect, the euro slumped after the news. Yet it looks like the drop was overdone as the currency is recovering right now.
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
November 07th, 2013 at 16:10
November 06th, 2013 at 16:30
Euro is finding its footing today, thanks to the latest round of economic data. The certainty that the ECB will have to cut rates this week is fading, and that is providing a bit of a boost to the 17-nation currency.
November 05th, 2013 at 23:00
The euro dropped today as speculations persisted about potential implementation of additional monetary stimulus by the European Central Bank. The economic reports were not helping the matter and the forecasts for the next year were less optimistic.
November 04th, 2013 at 15:20
Factory data is helping the euro today, boosting confidence in the 17-nation currency region. However, there are still questions about the euro, and concerns about what could be next. As a result, it appears that the euro’s rally is somewhat limited.
November 02nd, 2013 at 17:30
The long euro’s rally has ended abruptly this week as the currency posted a sharp drop, demonstrating the biggest loss since July 2012 against the US dollar. Moreover, the future of the currency looks bleak as the European Central Bank may cut interest rates.
November 01st, 2013 at 14:35
Euro continues to slide today, following a rather dramatic drop earlier. Expectations that the European Central Bank will have to take action regarding the slow-moving eurozone economy are rising, and a rate cut or another round of special financing are possibilities.
October 31st, 2013 at 12:41
The latest economic data out of the eurozone is somewhat disappointing — and indicative of continued economic malaise in the 17-nation currency region. Concerns are rising about what’s next for the euro, and there is speculation that the ECB will have to cut rates, even though an official just recently indicated that wasn’t a preferred option. The euro is down as a result.
October 29th, 2013 at 17:07
Euro is struggling right now, attempting to maintain its earlier strength. With expectations that the next Fed policy statement will continue to put off the taper, the euro gained, breaking through the 1.3800 level. However, the euro has since fallen back and is now down since the open.
October 25th, 2013 at 11:24
The euro was flat today as a report from Germany disappointed Forex market participants, causing speculations that the recovery of the euro-region is still in danger and the recent strong rally of the shared 17-nation currency was unwarranted.
October 24th, 2013 at 13:13
Even with the latest drop in the PMI, the euro is still surging in Forex trading. Indeed, the 17-nation currency continues to defy expectations and move higher as risk appetite improves and Forex traders become more confident about the eurozone economy.