With only third-tier data released from Europe, EURUSD traded sideways yesterday. The currency pair was stuck within a 22-pip range as it hovered around 1.1070 before closing with a 7-pip gain. The euro-dollar exchange rate opened today at 1.1077.
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EURUSD
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.
