PBOC sets USD/CNY reference rate at 7.2555 for today (vs estimate 7.2683)

euro

At the time of writing the euro (EUR) is the official currency of the European Union (EU) and 19 of its 27 member states. It is the second most traded currency globally in the foreign exchange market after the US dollar. The euro was originally introduced on January 1, 1999, replacing the European currency unit. Banknotes and physical euro coins subsequently entered circulation only in 2002. After its adoption, the euro replaced domestic currencies in participating EU member states. Since then its rise in value and importance in global markets has helped cement its position as one of the most important currencies in the FX market today. Along with the USD, the currency pair is easily the most important forex. Exposure between the two major economic blocs. What Factors Affect the Euro? There are several factors affecting the Euro. As with most currencies, monetary policy is the most influential, which in this case refers to the European Central Bank (ECB). The ECB is responsible for controlling monetary policy, the money supply, interest rates and the relative strength of the euro. Euro forex traders are regularly linked to any decision or announcement by the ECB for this reason. With 19 sovereign member states, the euro is particularly vulnerable to political developments. Recent examples include Greece’s debt crisis and Brexit, which could seriously affect the euro Finally, the economic data of the bloc or important member states such as Germany, France, Spain and others are also closely monitored These include retail sales, unemployment claims, gross domestic product (GDP) and others.

At the time of writing the euro (EUR) is the official currency of the European Union (EU) and 19 of its 27 member states. It is the second most traded currency globally in the foreign exchange market after the US dollar. The euro was originally introduced on January 1, 1999, replacing the European currency unit. Banknotes and physical euro coins subsequently entered circulation only in 2002. After its adoption, the euro replaced domestic currencies in participating EU member states. Since then its rise in value and importance in global markets has helped cement its position as one of the most important currencies in the FX market today. Along with the USD, the currency pair is easily the most important forex. Exposure between the two major economic blocs. What Factors Affect the Euro? There are several factors affecting the Euro. As with most currencies, monetary policy is the most influential, which in this case refers to the European Central Bank (ECB). The ECB is responsible for controlling monetary policy, the money supply, interest rates and the relative strength of the euro. Euro forex traders are regularly linked to any decision or announcement by the ECB for this reason. With 19 sovereign member states, the euro is particularly vulnerable to political developments. Recent examples include Greece’s debt crisis and Brexit, which could seriously affect the euro Finally, the economic data of the bloc or important member states such as Germany, France, Spain and others are also closely monitored These include retail sales, unemployment claims, gross domestic product (GDP) and others.
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