EUR news

The euro was under pressure today as the market reacted to the weak economic growth numbers from Europe. The EUR/USD pair dropped by about 10 basis points while the EUR/GBP pair rose slightly. The euro index declined by about 0.10%. European economy contracts in Q1 Europe has been among the most affected continents by the coronavirus pandemic. The region has lost more than 80,000 people and some of its most vulnerable economies have been in a fre...

The EUR/USD pair was little changed today as the market reacted to news of confrontation between the European Commission and Germany. EUR/USD little changed European commission threatens to sue Germany The EUR/USD pair wavered today after the European Commission warned that it will sue Germany. The confrontation between EU’s institutions started last week when a German court overruled a previous ruling by the European Court of Justice (ECJ) on th...

The EUR/USD pair declined today after a series of weak economic data and a German court ruling dampened sentiment on the euro. ECB hits back at a German court The EUR/USD pair declined after the European Central Bank (ECB) sent a sharply-worded response to a German court. This was in response to a ruling the court made yesterday about the legality of quantitative easing (QE). Ruling on a suit brought by a team of German economists, the court sitt...

The EUR/USD pair declined by 50 basis points after data from Markit showed that manufacturing PMI dropped to a record low in April. Eurozone manufacturing PMI disappoints The manufacturing PMI in the eurozone dropped to a record low of 33.4 in April. This was lower than the contraction of 44.5 that was recorded in March. According to Markit, this contraction was mostly because of the ongoing lockdowns and social distancing policies. The manufactu...

The EUR/USD pair whipsawed as the market continued reflected on the ECB interest rate decision and the weak CPI data from the eurozone. The ECB decision came less than 24 hours after the Fed released its monetary policy statement. ECB interest rate review The ECB left the deposit facility rate unchanged at -0.50% as was widely expected. The bank also left the marginal lending rate, which offers overnight credit to banks in the eurosystem, unchang...

The EUR/USD will remain being weak ahead of the ECB interest rate decision, according to Danske Bank. EUR/USD YTD performance ECB interest rate decision preview The ECB will be third major central bank to make an interest rate decision this week after the BOJ and the Fed. The bank will start its monetary policy meeting on Wednesday and release its rates decision on Thursday. Most analysts polled by Bloomberg expect the ECB to leave interest rates...

The EUR/USD pair rose today as traders reacted to weak US durable goods orders. These are the latest numbers to show the strain the US economy is in during the coronavirus pandemic. Investors also reacted to the deliberations in the European Union about forming a recovery fund. EUR/USD rises after disappointing durable goods orders US durable goods orders disappoint Investors reacted swiftly to the weak durable goods orders numbers released by th...

The EUR/USD pair declined as the market reacted to the disappointing manufacturing PMI data released by Markit. Investors also reacted to the rising yields on Italian government bonds. EUR/USD slips on weak manufacturing and services PMI data European Union manufacturing PMI slips The manufacturing sector in the European Union has been affected significantly by the current coronavirus pandemic. Many companies like Daimler, Volkswagen, and Airbus...

The EUR/USD pair declined slightly today as investors digested the latest economic data, earnings results, and coronavirus headlines. A significant mover for the euro was the March inflation data released by Eurostat. EUR/USD pair slides after weak CPI data EUR/USD falls after weak CPI data According to Eurostat, annual inflation in the euro area dropped to 0.7 per cent in March, down from 1.7 per cent in the previous month. This was the lowest i...

The EUR/USD pair dropped today amid a series of weak economic data from the United States. The Mortgage Bankers Association (MBA) released negative mortgage data for the second straight week while the Census Bureau released weak retail sales numbers. The New York manufacturing index also dropped to its lowest level on record. EUR/USD pair falls on a slew of negative data Mortgage data disappoint The current coronavirus pandemic has decimated the...

EUR/USD has gained around 1.3% this week as the Eurozone finally managed to approve a 540 billion euros stimulus package to fight the consequences of the COVID-19 outbreak and national lockdowns.  Fundamental analysis: Agreement reached, investors not convinced On late Thursday night, EU finance ministers clapped via the video link, as they finally managed to agree on a new coronavirus stimulus package, consisting of three programmes, worth...

The euro index inched downwards slightly after European finance ministers failed to reach an agreement on coronavirus financing. The index, which measures the euro against a basket of currencies declined by 0.15%. The EUR/USD pair declined by 17 basis points while the EUR/GBP dropped by 0.40%. Euro index fell after Eurogroup ministers failed to reach a deal European ministers disagree on financing The European Union has been among the worst-affec...

The US dollar index rose by 0.40% ahead of the weekly jobless claims data and the FOMC minutes. The EUR/USD dropped by 25 basis points while the dollar rose by 0.60% and 0.20% against the Australian dollar and pound respectively. The index has risen by more than 3.5% year-to-date. Dollar index rises US coronavirus cases soar The number of confirmed Coronavirus cases continued to rise in the United States. According to the government, almost 400k...

Eurostat released its monthly report on the Eurozone unemployment rate on Wednesday. The data showed unemployment to have dropped in February to a record low in the past 12 years. According to economists, however, data for the subsequent months is expected to be worse as the Coronavirus containment strategies including business shutdowns and nationwide lockdowns were implemented in the Eurozone in March.   Wednesday’s data recorded une...

The euro declined amid some positive Coronavirus news from the European Union. In a report yesterday, the World Health Organization (WHO) said that the Coronavirus outbreak in the region was peaking. The announcement came as the number of new infections in key countries like Italy and Spain started to decline. Indeed, as shown below, the number of new cases in Italy has declined while the number of recoveries has surged. Still, the current lockdo...

The Federal Statistical Office of Germany released its monthly report on the prelim consumer price index (CPI) on Monday. The data showed annual inflation to have sunk significantly in Germany this month. March’s reading was also recorded sharply lower than the ECB’s (European Central Bank) target for annual inflation. According to economists, March’s data hints at the need for the ECB to resort to further policy measures to pro...

EUR/USD has gained nearly 1.5% higher today in another extremely volatile trading day. The EUR bulls have managed to push the price higher on broader USD weakness, despite the Brussels struggles to come up with a unified approach in dealing with the economic fallout amid the coronavirus outbreak. Fundamental analysis: MPs demand a new EU long-term budget European Union (EU) leaders have failed to agree on the unified approach in dealing with the...