EUR/USD Exchange rate


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Editors’ Picks

How will Euro react to European Central Bank policy decisions? – LIVE

How will Euro react to European Central Bank policy decisions? – LIVE

The European Central Bank (ECB) is widely expected to keep monetary policy settings unchanged following the July meeting. The statement language and President Christine Lagarde's remarks on inflation and rate outlook could drive the Euro's valuation.

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GBP/USD drops below 1.3000 after UK jobs data

GBP/USD drops below 1.3000 after UK jobs data

GBP/USD is dropping below 1.3000 in the European session, correcting further from the 2024-high set at 1.3045 on Wednesday. The UK data showed that the ILO Unemployment Rate held steady at 4.4% in the quarter to May, as expected, weighing on the Pound Sterling.

GBP/USD News

Gold price remains stronger due to rising expectations of Fed rate cuts

Gold price remains stronger due to rising expectations of Fed rate cuts

Gold price (XAU/USD) edges higher to near $2,470 per troy ounce on Thursday, remaining close to record highs amid growing optimism that the Federal Reserve (Fed) will reduce rates in September.

Gold News

Billionaire Mark Cuban highlights Silicon Valley's increasing support for former President Trump as a “Bitcoin Play”

Billionaire Mark Cuban highlights Silicon Valley's increasing support for former President Trump as a “Bitcoin Play”

Bitcoin (BTC) faces resistance and stalls at around the $65,000 mark on Thursday, while on-chain data indicate a rise in holdings among short-term investors, coupled with a slight increase in inflows at US spot Bitcoin ETFs.

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What the US election could mean for deficits, debt and the yield curve

What the US election could mean for deficits, debt and the yield curve

Government borrowing and the national debt are barely getting a mention in the US election campaign, yet a failure to change trajectory risks further debt downgrades, more market volatility and higher borrowing costs. 

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Majors

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THE MOST TRADED CURRENCY PAIR

The EUR/USD (or Euro Dollar) currency pair belongs to the group of 'Majors', a way to mention the most important pairs in the world. The popularity of Euro Dollar is due to the fact that it gathers two main economies: Europe and the United States of America. This is a widely traded currency pair where the Euro is the base currency and the US Dollar is the counter currency. Since the EUR/USD pair consists of more than half of all the trading volume worldwide in the Forex Market, it is almost impossible for a gap to appear, let alone a consequent breakaway gap in the opposite direction.

The EUR/USD reached an all time high of 1.6038 in July 2008 and a record low of 0.8231 in October 2000.


EUR/USD FORECAST 2024

In her article “EUR/USD Price Annual Forecast: Vestiges of normality in 2024 as central banks pare massive tightening” published at the end of the year 2023, Valeria Bednarik talks about the EUR/USD Forecast and explains that "as 2023 comes to an end, financial markets keep trading on sentiment. The US Dollar falls while the Euro rises as confidence reigns. Optimism is pushing Wall Street higher and government bond yields down, which are signs of easing fears". "EUR/USD aiming to extend gains in the first half of 2024 amid sentiment trading".

If 2023 could be described with one word, that would be "sentiment". Through the last four years, the world has become a different one, and so have investors’ mindsets. As this year ends, some vestiges of normality are peeping in the near future, although the road is still long.

Read Valeria’s full article.


MOST INFLUENTIAL CURRENCIES FOR EUR/USD

The EUR/USD pair can also be impacted by other currencies, in particular GBP, CAD, JPY, CNY, and AUD. This group also includes the following currency pairs: GBP/USD, USD/JPY, AUD/USD, USD/CHF, NZD/USD, USD/CAD, GBP/JPY and EUR/JPY

MOST INFLUENTIAL ORGANIZATIONS FOR EUR/USD

The organization that most impact has nowadays the EUR/USD is the Federal Reserve, the central banking system of the United States of America created with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Jerome Powell is Fed's Chair, serving in that office since February 2018.

The Board of Governors (also known as the Federal Reserve Board) is carefully observed. The board meets several times per year and announces the interest rates. If rates remain unchanged, attention turns to the tone of the FOMC (Federal Open Market Committee) statement. Also particularly significant are the 12 Federal Reserve Banks that make up the Federal Reserve. These Federal District Reserve Districts issue their own statements and research data that give hints about the health of the US economy and might as well influence dollar-related currency pairs.

The US Government is as well an institution of great importance for the EUR/USD pair: events as administration statements, new laws and regulations or fiscal policy can increase or decrease the value of the US Dollar and the currencies traded against it.

Not only American institutions influence the EUR/USD pair, European too of course. And the number one organization is the European Central Bank, which is the central bank for the euro and administers monetary policy within the Eurozone, comprising 19 member states of the European Union and is one of the largest monetary areas in the world. ECB's main objective is to maintain price stability for the Euro while setting and implementing the monetary policy for the Eurozone (including interest rates). It also conducts foreign exchange operations and takes care of the foreign reserves of the European System of Central Banks. Christine Lagarde is ECB's President since November 2019.