The Euro to US Dollar (EUR/USD) exchange rate has been in a state of minor decline so far today, while both the common currency (EUR) and the ‘Buck’ (USD) have remained above water elsewhere. This movement against the US Dollar is largely a repeat of last week.
EUR/USD Exchange Rate News: Shortage of Eurozone Data Leaves Little Impetus for Movement Today
The Euro (EUR) has trended in a tight range against a majority of its competitors today, owing to the simple shortage of Eurozone economic announcements.
So far, the most impactful news has come from Italy, consisting of the nation’s business and consumer confidence for March. Advances have been recorded in both cases, although neither result has come out far above the previous printing.
Elsewhere, the Eurozone’s monetary supply and loan growth stats on the year in February have been released; these have respectively remained static at 5% and risen from 1.4% to 1.6%.
The Euro has advanced by 0.2% against the South African Rand (EUR/ZAR) today but has also fallen by -0.2% against the US Dollar (EUR/USD) and the New Zealand Dollar (EUR/NZD).
US Dollar (USD) Outcompetes Its Peers Today on Prior Fed Speech
The US Dollar (USD) has been cautiously rising against its usual competitors so far today, mainly on account of yesterday’s events.
While the US currency was devalued by a stagnation outcome for the personal consumption expenditure core on the year in February, it was conversely bolstered by a speech from Federal Reserve official John Williams.
Speaking yesterday, Williams stated that while the global economy was in a state of prolonged unrest, the US economy was conversely doing ‘quite well’.
The US Dollar has risen by 0.3% against the Australian Dollar (USD/AUD) and the Euro (USD/EUR) today, with a greater advance also being recorded of 0.4% against the Norwegian Krone (USD/NOK).
EUR/USD Exchange Rate Forecast: Slovakian Central Bank Speech and US Confidence Stats due Today
The near future is set to bring a pair of impactful speeches for the Eurozone and the US, coming from the former currency bloc first.
This will be a speech at noon from National Bank of Slovakia Governor Jozef Makuch, while the US’s contribution will be the March consumer confidence score, which is due in the afternoon. This has been forecast to rise from 92.2 to 94.
Current EUR, USD Exchange Rates
The Euro to US Dollar (EUR/USD) exchange rate was trending in the region of 1.1181 and the US Dollar to Euro (USD/EUR) exchange rate was trending in the region of 0.8946 today.