While tension in the Middle East affected oil prices last week, growing concern regarding Greece’s financial stability recently caused international currency markets to fluctuate significantly. As the U.S. economy continues to show signs of strengthening, and consumer confidence levels keep trending upward, now is an opportune time for investors to once again get involved with online trading. Read more
The EUR/USD depreciated on Wednesday, Feb. 18, after the Federal Reserve released the minutes of its January policy meeting.
The currency pair fell to as little 1.1338 during the session, FXStreet reported at 17:01 Greenwich Mean Time. The media outlet provided some technical analysis of the EUR/USD, stating that the currency pair could experience a breakout at 1.1450, the previous day’s high, and encounter resistance at 1.1320, the low obtained Feb. 16. Read more
The EUR/USD moved higher on Tuesday, Feb. 3, after Bloomberg reported on the latest developments between Germany and Greece.
Syriza won 141 of 300 parliament seats in the last Greek election, which resulted in Alex Tsipras ascending to the position of prime minister for the troubled European nation. The new head of state, who campaigned on an anti-austerity platform, has helped provoke concerns that Greece will leave the eurozone instead of continuing to be part of agreements that involve accepting austerity cuts for bailout funding. Read more
The EUR/USD dropped to its lowest in 26 months on Thursday, Nov. 6, after European Central Bank President Mario Draghi reiterated the financial institution will use any tools available to help jump-start growth in the euro zone.
Draghi reiterates pledge
The currency pair started moving lower immediately after Draghi began speaking at a press conference following a meeting of the ECB’s governing council, reaching as little as 1.2394 before paring some of these losses to hit 1.2408, according to MarketWatch. Late in the previous session, the currency pair was trading at 1.2487. Read more
The EUR/USD dropped to its lowest in more than two years earlier in October, and the currency pair could continue to move lower, market experts said recently.
Greenback gains against euro
The greenback rose to $1.2501 against the euro this month, as global market participants responded to data showing the region’s economy is suffering, according to Bloomberg. Ian Stannard, the head of European foreign-exchange strategy at Morgan Stanley in London, said that traders have been flocking to dollars instead of euros. Read more