Iraqi Dinar News

Trade Iraqi Dinar

Posts tagged: Euro

German, Eurozone Data Weigh on Euro

By , October 1, 2014 5:10 am

Multiple euro banknotes and coinsEuro is seeing more weakness today, and that’s not surprising, given the latest economic data out of the eurozone. Also not helping matters is the fact that the latest data out of Germany is disappointing as well. With the eurozone economy continuing to flounder, the more likely it is that ECB will take increasingly drastic steps to try to stimulate the situation.

Euro is down across the board today, dropping against its major counterparts as concerns about the eurozone economy continue to cause problems. The manufacturing sector in the eurozone slowed more than expected in September, moving to a point that is almost stagnation.

On top of that, the eurozone’s largest and most influential economy, Germany, also saw a slow down in manufacturing for September. The slowing is due in large part to the sanctions against Russia. Being able to sell to the Russian market is a big boost for Germany, and the rest of the eurozone, and with economic sanctions against Russia over the issues in Ukraine, the economy will only slow further.

Many see that the ECB will need to get more heavily involved, and that means a weaker euro.

At 10:47 GMT EUR/USD is down to 1.2597 from the open at 1.2630. EUR/GBP is down to 0.7777 from the open at 0.7791. EUR/JPY is down to 138.3510 from the open at 138.4960.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News

Euro Expected to Remain Lower

By , September 29, 2014 4:13 am

Euro banknotesEuro is mostly lower today against its major counterparts, and is expected to remain weak for some time. The latest inflation figures are about to be released, and policymakers have already indicated their willingness to do what it takes to weaken the euro in the name of economic stimulus.

Euro is mostly lower today against its major counterparts, falling as more indications of a slower economy are expected to show today. Inflation data is expected to be weak in the eurozone, and that means more measures to stimulate the economy.

Recently, ECB President Mario Draghi made it clear that policymakers are willing to adopt policies that lead to a weaker euro. A weaker euro should eventually help improve the economy, getting it going. However, some are beginning to say that Draghi and his colleagues are really aiming for currency devaluation.

In any case, the 18-nation currency is near lows not seen for quite some time as Forex traders contemplate what policymakers are willing to do in order kickstart the eurozone economy. All of these struggles are in stark contrast to other economies, which are recovering.

At 10:24 GMT EUR/USD is down to 1.2678 from the open at 1.2683. EUR/JPY is up to 138.87 from the open at 138.63. EUR/GBP is down to 0.7814 from the open at 0.7815.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News

Euro Continues to Struggle Against Counterparts

By , September 24, 2014 4:28 am

One euro coin and a chartEven though the euro has made up some lost ground recently, the 18-nation currency continues to struggle against some of its counterparts. Even with the euro catching up to the greenback, the US dollar is still expected to maintain the upper hand.

Euro is slightly lower against its major counterparts today, but it has still made up some of its lost ground from before. German PMI wasn’t particularly encouraging yesterday, with the data showing that manufacturing expanded at its slowest pace in more than a year.

Worries about what’s next for the eurozone economy continue to weigh on the 18-nation currency. Germany could lead the entire eurozone into a funk, and sanctions against Russia are a cause for economic concern. With all of this, it’s no surprise that the European Central Bank continues to watch anxiously for signs of growth. However, without those robust signs, it appears that more monetary easing could be on the way.

For now, the ECB is likely to stay put after its most recent surprise easing decision. But once the wait and see period is done, more euro weakness could come.

At 10:44 GMT EUR/USD is down to 1.2844 from the open at 1.2847. EUR/GBP is down to 0.7828 from the open at 1.7839. EUR/JPY is down to 139.5025 from the open at 139.8970.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News

Euro Economic Data Could Prompt More ECB Action

By , September 23, 2014 3:59 am

Stack of one-euro coins on a chartEven though the euro is holding some of its recent gains today, there are expectations that could change if the ECB has to take more action to try to stimulate the eurozone economy. The latest economic data isn’t all that encouraging, and the ECB might be under pressure to do more.

The latest economic data out of the ECB is somewhat disappointing. Business activity in the eurozone expanded at a slower rate than expected, dropping to 52.3 from 52.5. While that’s still in expansion territory, the disappointment comes from the fact that the expansion is slowing.

Earlier this month, the ECB cut its rate again, as well as announced it will be participating in quantitative easing by purchasing assets. The idea is to try to stimulate the economy. Previous efforts don’t seem to be working, but the ECB might wait to see if the latest round of actions help make a difference.

For now, though, the news hasn’t dented the euro’s current performance too much. The 18-nation currency is still holding its own, logging gains against some of its major counterparts today.

At 10:34 GMT EUR/USD is up to 1.2884 from the open at 1.2850. EUR/GBP is up to 1.6383 from the open at 1.6361. EUR/JPY is down to 139.6850 from the open at 139.8500.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News

Euro Mostly Steady Following ZEW

By , September 16, 2014 5:59 am

1,200 eurosEuro remains mostly steady following the latest ZEW report. Even though the ZEW showed a drop, the 18-nation currency didn’t follow suit. For now, it looks as though Forex traders are settling in to the current state of things.

The latest reading of the German ZEW showed a drop to 6.9 this month, from 8.6 last month. The drop, according to analysts, is due in large part to concerns about Russia. The European Union has been putting sanctions on Russia as a result of the situation in Ukraine, and many are concerned about the impact those sanctions could have on the eurozone economy.

However, even though this reading is much lower, there hasn’t been much reaction in terms of the euro. A lot of the euro’s drop is probably already priced in, thanks to recent moves by the ECB to stimulate the eurozone economy.

Additionally, the euro, like many currencies in Europe, seems to be waiting on the Scottish independence vote. There’s a lot up in the air right now, and a number of currencies seem to be in a holding pattern, waiting on events.

At 10:49 GMT EUR/USD is up to 1.2944 from the open at 1.2940. EUR/GBP is up to 0.7933 from the open at 0.7973. EUR/JPY is down to 138. 6510 from the open at 138.7040.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News

Weak Chinese Data Hits the Euro

By , September 15, 2014 8:13 am

One euro coin and a chartEuro would have been weakening anyway, thanks to recent efforts from the ECB, but weak Chinese data is weighing on risk appetite, and the euro is down across the board.

Euro is down today, thanks in large part to the fact that there are a lot of factors weighing on the 18-nation currency. The fact that the ECB continues to take steps to stimulate the economy is sending the euro lower, as are concerns about what the latest sanctions against Russia mean for the eurozone.

The latest news that the eurozone trade surplus has grown is barely a blip on anyone’s radar today. Even though Eurostat reports that the eurozone is seeing more exports, the euro isn’t ready to pick up the pace. A lot of that probably has to do with the fact that the latest data out of China has risk appetite fleeing.

Weak data out of China, which is one of the world’s major economic drivers, is weighing on risk appetite. Not only that, but euro does trade with China, and weak data means that the euro is going to be lower.

At 10:22 GMT EUR/USD is down to 1.2920 from the open at 1.2973. EUR/GBP is down to 0.7955 from the open at 0.7970. EUR/JPY is down to 138.5995 from the open at 139.0750.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News

Is the Euro Still too Strong?

By , September 12, 2014 4:01 am

Counting 50-euro billsEuro has weakened quite a bit recently, but, even so, some European policymakers believe that the 18-nation currency is still too strong.

A strong euro is likely to hinder the eurozone economic recovery, and that is just what some policymakers think is happening now. In spite of efforts from the ECB to stimulate the economy and weaken the euro, some think that the 18-nation currency remains too strong.

Yesterday, Bank of France Governor Christian Noyer expressed his doubts that the euro was weak enough to prompt economic progress for the eurozone. The ECB has a target of 2 per cent inflation, the eurozone is well below that. Even with recent efforts to stimulate the economy by weakening the currency, it’s been difficult to move forward.

While the sentiment didn’t prompt huge losses for the euro, today the currency is trading rangebound against its major counterparts, unable to get a clear upper hand. There are still questions about what sanctions to Russia will do to the eurozone economy, and concerns about what options are left available to the ECB.

At 10:32 GMT EUR/USD is holding steady at the opening level of 1.2924. EUR/GBP has inched a little higher to 0.7953 from the open at 0.7951. EUR/JPY is also a little higher at 138.5435 from the open at 138.3450.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News

Euro Takes a Breather, Holding Above Lows

By , September 10, 2014 8:29 am

Euro sign monument with ECB on backgroundForex traders took a step back from a recent euro selloff, helping the 18-nation currency find support above the 1.29 level. While there is greater mid-term to long-term demand for the greenback, right now the euro is looking for a bit of relief.

Following remarks from ECB officials and others that are supportive of further easing for the euro, the 18-nation currency sold off. Today, the euro is taking a breather, holding above 14-month lows against the US dollar, finding support above the 1.2900 level. Euro is also finding support against the Japanese yen.

The current breather for the euro is unlikely to last, however. With the United States expected to see interest rate increases in the relatively near future (at least, sooner than originally expected), and economic improvements in many other regions, the euro is likely to remain one of the weaker players in Forex trading.

In fact, there are some who think that the euro could become a funding currency for the carry trade, much like the Japanese yen. With rates so low, and other countries expected to begin increasing rates, the euro could easily find a new role.

At 10:47 GMT EUR/USD is up to 1.2952 from the open at 1.2937. EUR/GBP is down to 0.8027 from the open at 0.8033. EUR/JPY is up to 138.0495 from the open at 137.3955.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News

Euro Moves Lower as ECB Members Praise Rate Cuts

By , September 9, 2014 8:01 am

Euro sign monumentEuro is mostly lower again today, dropping against its United States and United Kingdom counterparts, thanks to recent comments from ECB members. With rate cuts being supported as a way to stimulate the economy, the expectation of more easing is weighing on the euro.

There is a lot of support for a weaker euro right now, and that is leading to Forex traders going along with the programme. Ewald Nowotny and Sabine Lautenschlager, both involved with the ECB and monetary policy, expressed their support for the recent rate cut recently. On top of that, IMF Chief Christine Lagarde also shared the sentiment that she supported a weaker euro as a way to boost the economy.

Euro is also lower thanks in part to a change in investor confidence for the eurozone. Investor confidence dropped to -9.8, indicating that there are concerns about the situation. As long as the recovery is slow, there is a good chance that policymakers will attempt to weaken the 18-nation currency in an effort to kickstart the economy.

With rates already low, many are looking to the ECB to embark on other measures.

At 10:27 GMT EUR/USD is is down to 1.2891 from the open at 1.2895. EUR/GBP is down to 0.7996 from the open at 0.8007. EUR/JPY is up to 171.2050 from the open at 170.7675.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News

Euro Falls for Eight Week

By , September 6, 2014 8:08 pm

Euro sign monumentThe most important event this week turned out to be the monetary policy of the European Central Bank. Analysts expected it to be uneventful, but they were completely wrong. The resulting shock sent the euro down. While the currency managed to retain some of its gains versus the Great Britain pound by the weekend, it fell against most other major counterparts. It was euro’s eight week of losses versus the US dollar.

While market participants were expecting monetary easing from the ECB sometime in the future, they were not anticipating that the central bank would act so soon. The resulting shock sent the euro down against all other most-traded currencies, the reaction that was very likely welcomed by ECB President Mario Draghi, who wants to see the currency weaker.

Another shocker this week was the release of US non-farm payrolls. Economists were anticipating another month of robust employment growth, but the actual report was very disappointing. It allowed the euro to bounce halt decline and bounce a little, yet the impact of the data was not as strong as one might expect.

The sterling, another European currency, was even weaker than the euro due to the upcoming referendum about independence of Scotland.

EUR/USD sank from 1.3129 to 1.2951 (1.4 percent) this week. EUR/JPY fell from 136.78 to 136.10, retreating from the weekly high of 138.28. EUR/GBP rallied from 0.7925 to 0.7957 during the week but retreated to 0.7931 by the weekend.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Forex News