Euro is looking for direction right now, and it seems likely that it will be all about the headlines this week. Confusion about what the ECB is planning to do — and what Germany is on board with — is hindering the euro a bit as Forex traders look for clues about what will happen next.
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
August 20th, 2012 at 13:41
August 17th, 2012 at 14:52
Even though German Chancellor Angela Merkel has implied support for ECB efforts to save the euro, the 17-nation currency continues to struggle today. Euro is heading lower, and there isn’t a lot that can be done about it for now. Really, the major moves are expected next week — after Merkel meets with other eurozone leaders.
August 16th, 2012 at 21:41
The euro was higher today against all of most-traded currencies as investors speculated that the European leaders would take steps to ease the negative influence of the sovereign-debt crisis and would seek a way out of the current detrimental economic state.
August 16th, 2012 at 2:14
The euro fell yesterday as fears about Greece’s exit from the eurozone resurfaced, driving investors away from the shared European currency. Today, the euro managed to pare its losses and gained against other majors.
August 14th, 2012 at 15:15
Euro is giving up its earlier gains against the US dollar today as better news out of the United States gives the greenback the edge. With the latest retail sales data, the US economy appears to be in a better place than the eurozone economy, and that means that the euro is losing ground to the dollar.
August 14th, 2012 at 1:03
The euro ended Monday’s session higher against major currencies and kept the gains today. Yet Forex traders are worried that today’s macroeconomic reports would show rather unpleasant picture of the eurozone economy, sending the currency down.
August 11th, 2012 at 15:46
This trading week was a bit uneventful. That was not good for the euro as traders hoped that the European Central Bank would act to support the currency as its President Mario Draghi had promised previously.
August 09th, 2012 at 13:59
Uncertainty about the fate of the eurozone is once again front and center in the markets, and that is sending the euro lower. The ECB has failed to act as quickly as many would like, and disappointing German data is dragging on the 17-nation currency.
August 08th, 2012 at 13:31
After three days of rallying, the euro is slipping as traders await moves from the ECB to support the 17-nation currency. Last week, Mario Draghi indicated that the ECB is ready to take some of the burden of Italy and Spain, but many are still waiting for something substantial.
August 06th, 2012 at 19:44
The euro was stronger at the beginning of today’s session, boosted by the optimism that persisted from the last week, but trimmed its gains and fell against some major currencies later after Italian Prime Minister Mario Monti warned that the eurozone may fall apart because of the disagreement among the European Union members.