The current spot price of the euro against the dollar and other currencies


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The current spot price of the euro against the dollar and other currencies

EUR/USD

EUR/USD is that the forex ticker that tells traders what percentage US Dollars are needed to shop for a Euro. The Euro-Dollar pair is fashionable traders because its constituents represent the 2 largest and most influential economies within the world. EUR / USD real-time rates and improved technical analysis using the interactive chart. Discover the factors which will influence the EUR/USD forecast and stay awake so far with the newest EUR/USD news and analysis articles.


 Market Analysis Apr, 2020

The dollar quite reversed out of intraday declines during the London AM session. The narrow trade-weighted USD index lifted out of a 99.85 and tested yesterday's eight-day high at 100.29, while EUR-USD dropped back to a 10-day low at 1.0813. The dollar also advanced against the pound, and therefore the commodity currencies, breaking its inverse correlation with global stock exchange direction, which have rallied after U.S. President Trump said that U.S. states can reopen during a three-stage process. S&P 500 futures were showing a third gain heading into the NY open. The risk-on sentiment hasn't been covering the complete spectrum of asset classes and currencies. Oil prices have plunged to fresh decade lows (WTI futures hitting an 18-year low at $18.03), and therefore the likes of the Australian and Canadian dollars have quite reversed intraday gains that were being seen within the Asian session. U.S. Treasury yields have also come down, with the 10-year T-note yield dipping below 0.640%, down from the 0.691% high that was seen earlier within the day. USD-CAD had rebounded out of a two-day low at 1.4003, with the pair reaching levels around 1.4100 before capping out. USD-JPY ebbed modestly lower, down from Thursday's four-day high at 108.08, while the yen outperformed other currencies, albeit moderately so. within the news mix today, was China's Q1 GDP data plunging 6.8% y/y, the primary contraction on record although hardly surprising given the draconian virus-containing measures taken within the country for much of the primary quarter.

[EUR, USD]

EUR-USD has dropped back amid a general bout of dollar gains, which has pushed the pair to a 10-day low at 1.0813. The dollar looks to possess broken its inverse correlation with global stock exchange direction, which have rallied after U.S. President Trump said that U.S. states can reopen during a three-stage process. S&P 500 futures are showing a near 3% gain presently. The risk-on sentiment isn't covering the complete spectrum of asset classes and currencies. Oil prices have plunged to fresh decade lows, and therefore the likes of the Australian and Canadian dollars have quite reversed intraday gains that were being seen within the Asian session. U.S. Treasury yields have also come down, with the 10-year T-note yield presently at 0.637%, down from the 0.691% high that was seen earlier within the day. EUR-USD at prevailing levels maybe a little to the south of the halfway mark of the volatile range that was seen during the peak of the market panic in March. The rapid deployment of monetary stimulus measures by the Fed, and expectations for more, have impacted the dollar in recent weeks, having satiated what had been a surge in demand for the world's reserve currency. We expect EUR-USD, after whipping between a 1.0637 low and a 1.1494 high in March, to stay during a choppy trading pattern, lacking clear directional bias for now.

[USD, JPY]

USD-JPY ebbed modestly lower, to levels below 107.70, down from Thursday's four-day high at 108.08. The yen has traded mixed in narrow ranges against other currencies, ebbing versus the commodity currencies while gaining modest ground versus the euro and a few other currencies. the Japanese currency has been little impacted by a rotation high in global stock markets, sparked by U.S. President Trump saying that U.S. states can reopen during a three-staged process, joining a variety of other countries that are already amid the primary, cautious phase of unlocking their economies. This helped markets overlook China's GDP plunge of 6.8% y/y, the primary contraction on record but hardly surprising given the draconian virus-containing measures taken within the country for much of the primary quarter. There have been many mentions of a V-shaped recovery, though the truth is that the return to economic normalcy is probably going to be an extended road. A study from the Harvard School of Public Health in the week highlighted that the return to normal could also be an extended road, saying (of the U.S.) that "intermittent distancing could also be required into 2020 unless critical care capacity is increased substantially or a treatment of vaccine becomes available." Such a backdrop would keep the yen broadly underpinned. We still anticipate USD-JPY trading at sub-100.00 levels.


[GBP, USD]

Cable has settled above yesterday's eight-day low at 1.2408. A rebound capped out a 1.2522, with the pair having subsequently drifted back to the lower 1.2400s. Sterling is concurrently showing modest losses against the euro and yen, despite gains in global stock markets, to which the united kingdom currency has for the foremost part been correlating positively during the prevailing pandemic era. the danger of a tough no-deal Brexit has re-emerged as a priority for the pound after a spokesman for the united kingdom prime minister said yesterday that, 1, the pandemic has strengthened the necessity or the united kingdom to be freed from EU regulation after 2020, and 2, that there'll not be any extension to the post-Brexit transition, which expires at the top of the year (and which maintains UK membership of the EU's union and single market, but without voting rights), albeit requested by the EU. This comes with negotiations, which are hobbled by the coronavirus crisis, set to resume next week. the united kingdom has only until July 1st to decide on whether to increase the transition period or not and therefore the two sides haven't thus far managed to narrow any of their differences on key sticking points. the united kingdom government is constant to play hardball despite the disrupting impact of the pandemic. the danger is that the EU will call its bluff because the economic consequences would be harder felt within the UK than within the EU. Tipping out of the transition period without a deal would end in the united kingdom economy trading on less favorable WTO terms. The Centre for Economic Performance estimates that such a shift would scale back UK trade with the EU by 40% over 10 years, while also causing slowing in investment and productivity growth.



[USD, CHF]

EUR-CHF yesterday tested the five-year low that was first seen on March 9th at 1.0505. Assuming the coronavirus crisis persists, as it looks highly likely, this could maintain Swiss franc's shelter premium, which should keep EUR-CHF directionally biased to the downside. The U.S. In January, Switzerland was included in the list of coin manipulators. The move seems a touch rich given the franc may be a demonstrably chronically-overvalued currency in purchasing parity terms (as illustrated by the Economist's Big Mac index), though the Trump administration argues that Switzerland needs a more expansive economic policy.


[USD, CAD]

USD-CAD had rebounded out of a two-day low at 1.4003, with the pair reaching levels around 1.4100. The Canadian dollar had seen modest outperformance after U.S. President Trump said that U.S. states can reopen during a phased process. This sparked a rally on global stock markets. But, oil markets haven't felt the great vibes, with sentiment remaining preoccupied by the huge demand/supply imbalance. Front-month WTI futures have racked up losses of over 8% in posting a replacement 18-year low at $18.03. this is often telling of the very fact that the return to economic normalcy is probably going to be an extended road. We retain a bullish view of USD-CAD.




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