EURUSD is trading around its 11-week highs ahead of the US NFP report. The currency pair is also on a seven-day winning streak, can it go for eight?
In this section, you will find important EURUSD news, actionable trading ideas, and a live EURUSD chart to help you understand the markets better.
What’s EURUSD ?
EURUSD is a Forex pair that shows how many US dollars it costs to buy one Euro. The Euro is the so-called base currency, while the US is the quote currency in this pair. The EURUSD is the most popular trading pair in the FX markets, and about 25% of all trades are made in this pair. The pair is therefore considered to be one of the “Majors Pairs.”
The price of the EURUSD depends on the supply and demand of the Euro and the US Dollar. The factors that affect supply and demand are the relative interest rates, the GDP growth, inflation, unemployment rates, balance of payments, and other macroeconomic figures.
The US Federal Reserve Bank (FED) and the European Central Bank (ECB) are the two institutions that EURUSD traders follow to get an idea about the future moves of the pair. Traders also watch Germany and France, the two biggest economies in Europe that affect the price of the euro.
Live EURUSD Chart
EURUSD finished yesterday’s trading higher as riots across the US weighed down the US dollar. Can it trade all the way to its December highs?
EURUSD is consolidating within a 25-pip range in today's Asian session as markets await the upcoming data from the euro zone. Technicals suggest the currency pair could rally to its 2-month highs.
The EURUSD turned higher after the US released a series of mixed of weak economic data. The unemployment claims, Q1 GDP, and durable goods data disappointed.
The EURUSD pair was little changed during the Asian session as investors reflected on the fundraising proposal by the European Commission. The pair will today react to the US jobless claims, GDP, and pending home sales data. It will also react to the European business and consumer confidence data.
EURUSD is leading losses among the majors in today’s Asian session on general dollar strength brought about by political tensions in Hong Kong.