The eurozone continues to show weak data readings, and many expect the recession in the eurozone to last through the rest of the year. However, even so, the euro is still gaining against the US dollar. Even with the current “risk off” environment, euro is heading higher.
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
May 23rd, 2013 at 14:40
May 22nd, 2013 at 14:19
Euro is gaining ground today, heading higher as Ben Bernanke’s testimony to Congress gets under way. Expectations of loose monetary policy in the United States are helping the euro today.
May 20th, 2013 at 16:05
Euro is gaining ground today against the US dollar, firming ahead of the upcoming EU meeting. Even though there are expectations that Cyprus will need more support, and the situation with the eurozone is still a long way from resolved, the euro is finding support today.
May 17th, 2013 at 17:25
Disagreement over the vision of the eurozone is starting to take its toll on the euro. Lack of unified leadership at a time of economic difficult and continued sovereign debt crisis is contributing to the euro hitting a six week low in earlier trading.
May 16th, 2013 at 13:03
Euro is mixed today on the Forex market as an oil probe looking into price fixing continues. Recent US economic data is also being taken into consideration, since it demonstrates that maybe recovery is not on the way after all.
May 15th, 2013 at 9:35
The euro fell today as German economic growth trailed forecasts, reducing investors’ optimism about the future of the eurozone.
May 14th, 2013 at 14:12
The euro’s struggles against the US dollar continue today, with Germany and the ECB disagreeing on the next policy move. Euro has managed to make up some lost ground, though, paring its earlier losses as risk appetite rises on better equity performances. However, with commodities lower, the euro isn’t likely to find too much support.
May 13th, 2013 at 16:05
Euro is struggling today, changing between gains and losses against the US dollar, and finding it difficult to gain solid traction against other major currencies. Worries about recession continue to weigh on the 17-nation currency.
May 10th, 2013 at 13:31
Euro is lower against the US dollar today, dropping below the 1.3000 level for the first time in about two weeks. There isn’t a clear reason for the drop to take place right now, but there is speculation that general dollar strength is the main driver.
May 08th, 2013 at 16:31
Euro is gaining ground today, heading higher as an ECB rate cut seems further off after German economic data. Also helping the euro is general risk appetite following Chinese data.