EUR/USD Forecast and News
EUR/USD refreshes daily high above 1.1850 ahead of EU data
EUR/USD is trading above 1.1850, as it continues to notch higher on Thursday. Dovish Fed downs the US Treasury yields alongside the US dollar. Rebound in Chinese stocks lifts overall market mood, weighing further on the safe-haven dollar. Eurozone data and US GDP in focus..
Latest EUR News
EUR/USD Technical Overview
EUR/USD additional levels
OVERVIEW
Today last price 1.1854
Today Daily Change 0.0010
Today Daily Change % 0.08
Today daily open 1.1844
TRENDS
Daily SMA20 1.1819
Daily SMA50 1.1979
Daily SMA100 1.1975
Daily SMA200 1.2008
Fundamental Overview
The Fed left the target range for its federal rates unchanged at 0-0.25% and assets purchasing also remained unchanged at the current pace of $120 billion.
In addition to that, Fed Chair Jerome Powell cautioned that although there has been substantial improvement in the economy still there is a way to go before the central bank would adjust its ultra-accommodative policy, which also kept investors away from the US dollar.
On the other hand, the single currency is boosted by the upbeat economic data and general risk-on mood. The IHS Markit Eurozone Composite PMI rose to 60.6 in June from 59.5 in the previous month.
Being said, the stronger economic data in the US and Eurozone improved the risk appetite and drove market participants towards riskier assets. The risk-on market sentiment favors EUR/USD upside gains.
The important data on the economic calendar to look out for would be the EURO Unemployment Rate, Consumer Confidence data, and German Haromized Inflation Rate. The US Gross Domestic Product (GDP) and Initial Jobless Claims would also be on the trader’s radar.
SPECIAL WEEKLY FORECAST
Interested in weekly EUR/USD forecast? Our experts make weekly updates forecasting the next possible moves of the Euro-US Dollar pair. Here you can find the most recent forecast by our market experts:
EUR/USD: The ECB disappointed, will the Fed follow such a lead?
The European Central Bank failed to clarify its new forward guidance. The US Federal Reserve could hint at tapering before year-end. EUR/USD is technically bearish and could pierce the 1.1700 level.
EUR/USD Big Picture
EUR/USD Bullish Themes
EUR/USD Bearish Themes
Latest EUR Analysis
Editors' picks
EUR/USD refreshes daily high above 1.1850 ahead of EU data
EUR/USD is trading above 1.1850, as it continues to notch higher on Thursday. Dovish Fed downs the US Treasury yields alongside the US dollar. Rebound in Chinese stocks lifts overall market mood, weighing further on the safe-haven dollar. Eurozone data and US GDP in focus..........
GBP/USD renews monthly top above 1.3900 on softer USD, Brexit optimism
GBP/USD picks up bids to refresh multi-day high above 1.3900. US dollar tracks Treasury yields to the south amid Fed’s dovish tilt. EU softens legal threat over NI protocol on demand of UK’s Frost. UK scraps quarantine rules for fully vaccinated EU, US travelers.
USD/JPY consolidates below 110.00 ahead of US critical data
USD/JPY consolidates gains on Thursday in the initial trading session. Lower US Treasury yields undermine the demand for the US dollar. The yen remains unchanged after the BOJ summary of opinions suggests a longer accommodative monetary policy.
Gold aims for $1821 and $1825 as next bullish targets
The Fed once again came to the rescue of the bulls, lifting gold price from around the key support around $1792 to take on the upside beyond the $1800 mark. So far this Thursday, gold price is extending the post-Fed rally towards the critical SMA200 one-day at $1821.
WTI: Eases from three-week-old resistance line, 21-DMA
WTI oil prices seesaw around $72.00, down 0.15% intraday, during Thursday’s Asian session. The energy benchmark refreshed two-week top the previous day while posting a daily close beyond 21-DMA and 61.8% Fibonacci retracement (Fibo.) for the first time since July 14.
Majors
Cryptocurrencies
Signatures
EUR/USD Yearly forecast
How could EUR/USD move this year? Our experts make a EUR/USD update forecasting the possible moves of the euro-dollar pair during the whole year. Don't miss our 2024 EUR/USD forecast!
EUR/USD FORECAST 2024
In the EURUSD 2024 Forecast, our analyst, Valeria Bednarik, anticipates gains for the next couple of months. The Eurozone economy would need to show steady signs of recovery to prevent EUR/USD from collapsing below 1.0390 in the year's second half. Read more details about the forecast.
The pair traded as low as 1.0447 and as high as 1.1275 throughout 2023, with currencies moving on sentiment.
MOST INFLUENTIAL POLITICAL EVENTS IN 2024 FOR EUR/USD
There is a note of color that would stand out in the upcoming months: the US 2024 presidential election that will take place on November 5. The contest nomination will start as soon as January and run until June. The pinch of drama comes from Donald Trump’s desire to represent Republicans once again. A potential second government of Donald Trump could mean higher inflationary pressures as Trump could reintroduce tariffs on imports and push against the agreements between China and the Biden administration.
Influential Institutions & People for the EUR/USD
The Euro US Dollar can be seriously affected by news or the decisions taken by two main central banks:
The European Central Bank (ECB)
The European Central Bank (ECB) is the central bank empowered to manage monetary policy for the Eurozone and maintain price stability, so that the euro’s purchasing power is not eroded by inflation. The ECB aims to ensure that the year-on-year increase in consumer prices is less than, but close to 2% over the medium term. Another of its tasks is one of controlling the money supply. The European Central Bank’s work is organized via the following decision-making bodies: the Executive Board, the Governing Council and the General Council. Christine Lagarde is the President of this organism.
ECB Official Website, on Twitter and YouTube
The Federal Reserve Bank (Fed)
On the other
FED Official Website, on Twitter and Facebook
Christine Lagarde
Christine Lagarde was born in 1956 in Paris, France. Graduated from Paris West University Nanterre La Défense and became President of the European Central Bank in November 1st 2019. Prior to that, she served as Chairman and Managing Director of the International Monetary Fund between 2011 and 2019. Lagarde previously held various senior ministerial posts in the Government of France: she was Minister of the Economy, Finance and Industry (2007–2011), Minister of Agriculture and Fishing (2007) and Minister of Commerce (2005–2007).
Lagarde on ECB'S Profile and Wikipedia
Jerome Powell
Jerome Powell took office as chairman of the Board of Governors of the Federal Reserve System in February 2018, for a four-year term ending in February 2022. His term as a member of the Board of Governors will expire January 31, 2028. Born in Washington D.C., he received a bachelor’s degree in politics from Princeton University in 1975 and earned a law degree from Georgetown University in 1979. Powell served as an assistant secretary and as undersecretary of the Treasury under President George H.W. Bush. He also worked as a lawyer and investment banker in New York City. From 1997 through 2005, Powell was a partner at The Carlyle Group.
Jerome Powell Fed's Profile and Wikipedia
ECB NEWS & ANALYSIS
FED NEWS & ANALYSIS
About EUR/USD
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. This group also includes the following currency pairs: GBP/USD, USD/JPY, AUD/USD, USD/CHF, NZD/USD and USD/CAD. The popularity is due to the fact that it gathers two main economies: the European and American (from United States of America) ones. 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.
Normally, it is very quiet during the Asian session because economic data that affects the fundamentals of those currencies is released in either the European or U.S. session. Once traders in Europe get to their desks a flurry of activity hits the tape as they start filling customer orders and jockey for positions. At noon activity slows down as traders step out for lunch and then picks back up again as the U.S. comes online. If there is important U.S. data we can expect quiet markets just ahead of the number. U.S. economic news have the ability to either reinforce an existing trend or reverse it depending on by how much it missed or beat expectations with the EUR/USD news. By 5:00 GMT liquidity leaves the market once again as European traders close out positions and head home.
Related pairs
GBP/USD
The GBP/USD (or Pound Dollar) currency pair belongs to the group of 'Majors', a way to mention the most important pairs worldwide. This group also includes the following currency pairs: EUR/USD, USD/JPY, AUD/USD, USD/CHF, NZD/USD and USD/CAD. The pair is also called 'The Cable', reffering to the first Transatlantic cable that was crossing the Atlantic Ocean in order to connect Great Britain with the United States of America. This term was originated in the mid-19th century and it makes GBP/USD one of the oldest currency pairs in the world.
The popularity of the Pound Dollar is due to the fact that represents two strong economies: British and American (from United States of America). The Cable is a widely observed and traded currency pair where the Pound is the base currency and the US Dollar is the counter currency. After the result of the Brexit referendum, where the majority of the British voted to abandon the European Union, GBP/USD has been suffering some turbulence in the Forex market as a consequence of the associated risks of leaving the single market.
USD/JPY
The USD/JPY (or US Dollar Japanese Yen) currency pair is one of the 'Majors', the most important pairs in the world. Japanese Yen has a low interest rate, normally used in carry trades, that's why is one of the most trades currencies worldwide. In the USD/JPY the US Dollar is the base currency and the Japanese Yen is the counter currency. The pair represents American (from United States of America) and Japanese economies.
Trading the USD/JPY currency pair is also known as trading the "ninja" or the "gopher", although this last name is more frequently used when reffered to the GBP/JPY currency pair. The US Dollar Japanese Yen usually has a positive correlation with the following two pairs: USD/CHF and USD/CAD. The nature of this correlation is dued to the fact that both currency pairs also use the US Dollar as the base currency, such as USD/JPY. The value of the pair tends to be affected when the two main central banks of each country, the Bank of Japan (BoJ) and the Federal Reserve Bank (Fed), face serious interest rate differential.