Euro is heading lower today, due in large part to the latest economic news. It appears that economic contraction is a very real possibility, and that is weighing on euro today. The news is supporting predictions that the European Central Bank will cut interest rates on Thursday in order to help stimulate the economy.
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
July 04th, 2012 at 15:33
July 02nd, 2012 at 23:16
The euro retreated today, following the huge gains on Friday, as the eurozone unemployment rate rose and investors speculated that the central bank may decrease its interest rates.
June 30th, 2012 at 14:13
The major even, leading the Forex market this week, was the summit of the European Union leaders on June 28–29. The weakness of the euro, which was prevailing for the most part of the week, was erased by the end of the meeting.
June 29th, 2012 at 11:56
The euro sharply rebounded today as the European Union summit surprised Forex market participants as some positive results already came out, giving hope that the meeting would not consist of just empty talks.
June 28th, 2012 at 19:40
The euro fell today against the US dollar for the fourth straight day even as a two-day meeting of European leaders has started. The currency was also down versus the Japanese yen, but climbed against the Great Britain pound for the second day.
June 28th, 2012 at 0:37
The euro showed a mixed performance ahead of the EU summit. It rose against the Great Britain pound, fell versus the US dollar, before rebounding later, and stayed flat against the Japanese, showing that traders are uncertain about the way the currency would go.
June 26th, 2012 at 15:17
The upcoming European Union summit is doing little to help calm nerves right now. While there are grand plans being laid, few people expect a true breakthrough from the summit, and there is an expectation that the situation will remain largely the same at the end of the meeting.
June 25th, 2012 at 14:19
Fears about Europe are back in the spotlight, causing worries and resulting in risk aversion that is weighing heavily on the euro today. Euro is lower as concerns about what’s next send EUR/USD below the 1.25 mark.
June 22nd, 2012 at 13:29
Euro is moving higher right now as the markets calm down from yesterday’s huge break down. Concerns about the global economy, along with a mass downgrade of banks by Moody’s Investors Serve, send markets tumbling out of control yesterday. Today, though, things are calming down a bit, and the euro is seeing a bit of a lift.
June 21st, 2012 at 12:43
The economic outlook is worsening in Europe, and that is bringing the euro down against the US dollar in Forex trading. Concerns about what’s next for the eurozone, as well as for the euro itself, are weighing on the 17-nation currency right now.