News

Euro Hits 3-Month Low
The euro extended losses towards the $1.19 mark, hovering around its weakest level since late November, as investors turned to bond yields and the dollar after US Fed chief said that the economic reopening could boost inflation temporarily. The euro was already under pressure as investors continue to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. Elsewhere, remarks from a number of European Central Bank policymakers this week suggested the bloc's monetary authority stands ready to provide more stimulus if needed to keep yields down and support the economy.
Published on 2021-03-05

Euro Hits 1-Month Low
The euro extended losses to fall below the $1.20 mark, having touched its lowest level since February 5th on Thursday, as investors turned to bond yields and the dollar after US Fed chief said that the economic reopening could boost inflation temporarily. The euro was already under pressure as investors continue to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. On the economic data front, retail sales in the Eurozone tumbled by 5.9% in January, the most since April's record slump and compared with market forecasts of a 1.1% decline. Elsewhere, remarks from a number of European Central Bank policymakers this week suggested the bloc's monetary authority stands ready to provide more stimulus if needed to keep yields down and support the economy.
Published on 2021-03-04

Euro Remains Under Pressure on Growth Concerns, Weak Data
The euro traded around $1.203, moving closer to Tuesday's near one-month low of $1.20, as investors continue to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. On the economic data front, retail sales in the Eurozone tumbled by 5.9% in January, the most since April's record slump and compared with market forecasts of a 1.1% decline; while a PMI survey showed the Eurozone's construction sector contracted sharply in February for a 12th consecutive month. Elsewhere, remarks from a number of European Central Bank policymakers this week suggested the bloc's monetary authority stands ready to provide more stimulus if needed to keep yields down and support the economy.
Published on 2021-03-04

Euro Little-Changed on Wednesday
The euro was little-changed at $1.208, having touched on Tuesday an almost one-month low below $1.20, as investors digested remarks from a number of European Central Bank policymakers and the release of mixed economic data. ECB board member Fabio Panetta said the central bank should expand bond purchases or increase the quota earmarked for them if needed to keep yields down; while President Christine Lagarde said on Monday the bloc's monetary authority would help ensure that firms and families can access the finance they need to weather "this storm", and that they could do so in the confidence that financing conditions will not tighten prematurely. On the economic data front, February's PMI survey showed the Eurozone private sector activity contracted less than initially thought; while German retail sales tumbled for a second straight month in January, and unemployment numbers in Germany and Spain increased in February, amid ongoing lockdown measures.
Published on 2021-03-03

Euro Weakens on Poor Economic Data
The euro depreciated towards $1.20, trading around its weakest level since November, after weak economic data showed German retail sales tumbled for a second straight month in January, and at a faster than expected pace. In addition, unemployment numbers in Germany and Spain increased in February, amid ongoing lockdown measures. On Monday, European Central Bank President Christine Lagarde said the central bank would help ensure that firms and families can access the finance they need to weather this storm, and that they could do so in the confidence that financing conditions will not tighten prematurely.
Published on 2021-03-02

Euro Flat Ahead of Key Speeches
The euro was little-changed at $1.205 on Monday as investors remained cautious ahead of key speeches by several ECB officials later today, including remarks from President Christine Lagarde. On Friday, policymaker Yannis Stournaras openly called for an increase to the pace of bond purchases. Also, Philip Lane and Isabel Schnabel have signaled that the central bank stands ready to provide more support, if rising yields hurt the Eurozone recovery. Last week, the euro touched a one-month high due to optimism surrounding lockdowns ending and economies re-opening, while concerns about COVID-19 vaccination delivery delays mounted.
Published on 2021-03-01

Euro Weakens on Friday
The euro depreciated towards $1.21 on Friday, as investors dumped riskier assets amid concerns over the recent rally in bond yields. Early this morning, ECB policymakers Philip Lane and Isabel Schnabel have signaled that the central bank stands ready to provide more support, if rising yields hurt the Eurozone recovery. The euro hit on Thursday its strongest level in a month due to optimism surrounding lockdowns ending and economies re-opening, while concerns about COVID-19 vaccination delivery delays mounted. On the economic data front, France's economy contracted more than initially thought in the fourth quarter, while household consumption in December declined more than expected. Also, February's inflation numbers showed a higher than expected rate in France, while in Spain consumer prices were flat. Last week, the ECB policy meeting minutes showed that officials agreed that headline inflation was at a very low level and that it continued to be distant from the central bank's target.
Published on 2021-02-26

Euro Falls From 1-Month High
The euro depreciated towards $1.21 on Friday, having touched on Thursday its strongest level in a month due to optimism surrounding lockdowns ending and economies re-opening. Meanwhile, concerns about COVID-19 vaccination delivery delays mounted while economic data painted a mixed picture of the Eurozone's pace of recovery. France's economy contracted 1.4% in the fourth quarter, more than initially thought, while household consumption in December declined more than expected. Meanwhile, February's inflation numbers showed a higher than expected rate in France, while in Spain consumer prices were unchanged, missing forecasts of a 0.6% increase. Last week, the ECB policy meeting minutes showed that officials agreed that headline inflation was at a very low level and that it continued to be distant from the central bank's target, while a further appreciation of the euro posed risk to the inflation outlook.
Published on 2021-02-26

Euro Rises Above $1.22
The euro appreciated above the $1.22 mark for the first time since January 12th, helped by stronger-than-expected consumer sentiment and GDP data from Germany. Investors have been also upbeat about lockdowns ending and economies re-opening, while concerns about COVID-19 vaccination delivery delays mounted. Earlier this week, ECB chief Lagarde said that the central bank was closely monitoring the evolution of longer-term yields, and that it would continue to support all sectors of the economy by preserving favorable financing conditions over pandemic period. Last week, the ECB policy meeting minutes showed that officials agreed that headline inflation was at a very low level and that it continued to be distant from the central bank's target, while a further appreciation of the euro posed risk to the inflation outlook.
Published on 2021-02-25

Euro Trades Around 1-Month High
The euro traded around $1.217, not far from a one-month high hit on Tuesday, supported by stronger-than-expected data showing Germany’s economy grew more than initially thought in the fourth quarter. Investors have been also upbeat about lockdowns ending and economies re-opening, while concerns about COVID-19 vaccination delivery delays mounted. Earlier this week, ECB chief Lagarde said that the central bank was closely monitoring the evolution of longer-term yields, and that it would continue to support all sectors of the economy by preserving favorable financing conditions over pandemic period. Last week, the ECB policy meeting minutes showed that officials agreed that headline inflation was at a very low level and that it continued to be distant from the central bank's target, while a further appreciation of the euro posed risk to the inflation outlook.
Published on 2021-02-24

Euro Hits 4-week High
EURUSD increased to a 4-week high of 1.217
Published on 2021-02-23

Euro Strengthens to 1-Month High
The euro touched a fresh one-month high of $1.217, after ECB chief Lagarde said that the central bank was closely monitoring the evolution of longer-term yields, and that it would continue to support all sectors of the economy by preserving favorable financing conditions over pandemic period. Last week, the ECB policy meeting minutes showed that officials agreed that headline inflation was at a very low level and that it continued to be distant from the central bank's target, while a further appreciation of the euro posed risk to the inflation outlook. Elsewhere, concerns mounted over the slowing pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery.
Published on 2021-02-22

Euro Little-Changed on Monday
The euro traded around $1.21 on Monday, as investors await ECB President Lagarde's speech later in the day. The ECB policy meeting minutes showed last week officials agreed that headline inflation was at a very low level and that it continued to be distant from the central bank's target, while a further appreciation of the euro posed risk to the inflation outlook. Elsewhere, concerns mounted over the slowing pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery.
Published on 2021-02-22

Euro Rises Above $1.21
The euro bounced back above the $1.21 mark, moving closer to Tuesday's three-week high of $1.217. The ECB policy meeting minutes showed officials agreed that headline inflation was at a very low level and that it continued to be distant from the central bank's target, while a further appreciation of the euro posed risk to the inflation outlook. Elsewhere, concerns mounted over the slowing pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. On the global front, investors awaited any signs of progress on the US fiscal stimulus side.
Published on 2021-02-19

Euro Appreciates After ECB Minutes
The euro extended gains towards the $1.21 mark, still remaining below Tuesday's three-week high of $1.217. The ECB policy meeting minutes showed officials agreed that headline inflation was at a very low level and that it continued to be distant from the central bank's target, while a further appreciation of the euro posed risk to the inflation outlook. Elsewhere, concerns mounted over the slowing pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. On the global front, investors awaited any signs of progress on the US fiscal stimulus side.
Published on 2021-02-18

Euro Gains Slightly Ahead of ECB Minutes
The euro traded slightly higher towards the $1.21 mark, still remaining below Tuesday's three-week high of $1.217, ahead of the publication of the ECB policy meeting minutes later in the day. Concerns mounted over the slowing pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. Meanwhile, investors around the world await any signs of progress on the US fiscal stimulus side.
Published on 2021-02-18

Euro Falls From 3-Week High
The euro depreciated below the $1.21 level, from a three-week high hit on Tuesday, as concerns mounted over the slowing pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. Meanwhile, investors around the world await any signs of progress on the US fiscal stimulus side.
Published on 2021-02-17

Euro Extends Gains to New 3-Week High
The euro extended yesterday's gains to trade around $1.215, its strongest level since January 26th, amid optimism over the global economic recovery as vaccine progress continues and a massive fiscal stimulus is expected to be delivered in the US.
Published on 2021-02-16

Euro at 3-Week High
The euro traded slightly higher at $1.214 on Monday, its strongest level since January 26th, amid optimism over the global economic recovery as vaccine progress continues and a massive fiscal stimulus is expected to be delivered in the US.
Published on 2021-02-15

Euro Depreciates on Friday
The euro edged lower to trade around the $1.21 level, not far from an over week high hit on Wednesday. Investors continue to monitor the implications of restrictions on activity and consumption, and the pace of vaccinations against Covid-19. Meanwhile, the European Commission lowered on Thursday its GDP forecasts for 2021, saying it now expects the Eurozone to grow 3.8% this year and the same in 2022, from its unprecedented recession in 2020. Early November estimates had shown projections of a 4.2% expansion in 2021 and a 3% growth in 2022.
Published on 2021-02-12