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The Euro has initially rally during the course of the trading week but pulled back rather significantly. At this point, the market looks vulnerable for a short-term pullback.
The Euro fell rather hard during the week, reaching down towards the 1.13 level, an area that we have seen more than once, and I think that the market is setting up for even further consolidation ...
The Euro continues to fall during the week but did get a little bit of a reprieve on Thursday as traders closed out positions ahead of the Easter weekend. EUR/USD Weekly Price Forecast – Euro ...
The market convention is to quote most exchange rates against the USD with the US dollar as the base currency (e.g. USDJPY, USDCAD, USDCHF). The exceptions are the British pound (GBP), Australian dollar (AUD), the New Zealand dollar (NZD) and the euro (EUR) where the USD is the counter currency (e.g. GBPUSD, AUDUSD, NZDUSD, EURUSD).
The euro area HICP is a weighted average of price indices of member states who have adopted the euro. The primary goal of the ECB is to maintain price stability, defined as keeping the year on year increase HICP target on 2% over the medium term. [ 1 ]
For example, the purchasing power of the US dollar relative to that of the euro is the dollar price of a euro (dollars per euro) times the euro price of one unit of the market basket (euros/goods unit) divided by the dollar price of the market basket (dollars per goods unit), and hence is dimensionless. This is the exchange rate (expressed as ...
The euro headed for its best week since May on Friday after the European Central Bank (ECB) raised borrowing costs more than expected overnight in its first rate hike since 2011.
As mentioned previously, the quotation EUR/USD 1.2500 (or EURUSD 1.2500) means that one euro is exchanged for 1.2500 US dollars. If the quote changes from EUR/USD 1.2500 (or EURUSD 1.2500) to 1.2510, the euro has increased in relative value by 10 pips ( Percentage in point ), because either the dollar buying strength has weakened or the euro ...