1 EUR to USD Euros to US Dollars Exchange Rate

It is possible to trade the currency pair 24/7, and you can choose suitable hours depending on your trading strategy and risk tolerance. Typically, the EUR/USD experiences higher volumes when major news events and economic data drive fluctuations in the price, allowing speculation on the pair. Not only American institutions influence the EUR/USD pair, European too of course. ECB’s main objective is to maintain price stability for the Euro while setting and implementing the monetary policy for the Eurozone (including interest rates). It also conducts foreign exchange operations and takes care of the foreign reserves of the European System of Central Banks. Potential euro strength against the dollar will be influenced by the prevailing rates of inflation, central bank intervention and the fortunes of the European and U.S. economies.

Popular Euro (EUR) Currency Pairings

Born in Washington D.C., he received a bachelor’s degree in politics from Princeton University in 1975 and earned a law degree from Georgetown University in 1979. Powell served as an assistant secretary and as undersecretary of the Treasury under President George H.W. Bush. However, in the long term, the US economy is expected to outperform its European counterpart, suggesting that any weakness in the USD may be temporary. To view rates between the US Dollar and the Euro for a particular year, click on one of the links below. Europe also faces a greater chance of plunging into a recession, according to Capital Economics.

​​EUR/USD sheds some ground and GBP/USD heads sharply lower, while USD/JPY recovers from its lows​

Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples. DailyFX Limited is not responsible for any trading decisions taken by persons not intended to view this material. Options and futures are complex instruments which come with a high risk of losing money rapidly due to leverage. Before you invest, you should consider whether you understand how options and futures work, the risks of trading these instruments and whether you can afford to lose more than your original investment. One of the most closely watched currency pairs today is EUR/USD – also called the euro-dollar.

Euro – Dollar Chart

In 2002, the first physical euro banknotes and coins came into circulation and the euro assumed its final form. If the Fed proceeds with more significant rate cuts, the policy gap between the Fed and the ECB could narrow in the medium term, potentially supporting further gains for EUR/USD. The two-year spread, which EUR/USD is correlated with, recently traded at its tightest since July of 2023 after the most recent U.S. payroll report indicated slower job growth. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. The author has not received compensation for writing this article, other than from FXStreet.

New Zealand Dollar extends upside as Chinese CPI inflation beats expectation

Meanwhile, the euro is the official currency of 20 of the 27 member states of the EU, with that number due to be increased by one in 2024, when Bulgaria drops the Bulgarian lev (BGN) and joins the Eurozone. It is also legal tender in some of Europe’s microstates, such as Andorra, Monaco, San Marino and Vatican City. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row.

• Find out how you can take advantage of EUR/USD price movements with IG.
• Share dealing and IG Smart Portfolio accounts provided by IG Trading and Investments Ltd, CFD accounts and US options and futures accounts are provided by IG Markets Ltd, spread betting provided by IG Index Ltd.
• Trend trading, or trend following, refers to the strategy where a trader aims to ride the waves of the market, trending in line with the current price trends.
• Make sure to always conduct thorough due diligence before opening a position.
• It has become a choice for capital inflows seeking both safety and exposure to a hawkish Federal Reserve (Fed).

For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote). The table below shows the percentage change of US Dollar (USD) against listed major currencies today. Following a protracted downtrend against the dollar since February, the beleaguered euro (EUR) has suffered an 8.80% decline compared to the dollar (USD) so far this year. For more info on how we might use your data, see our privacy notice and access policy and privacy webpage. Open a free, no-risk demo account to stay on top of index movement and important events. Markets had come under severe pressure on Monday on fear of a major slowdown in the global economy and on an escalation in geopolitical tension.

A decrease of 0.50% in the annual rate of inflation was reported for October, reducing the expected number of 8.20% to 7.70%. Although the euro has increased by 5.19% in value against the dollar since Oct. 15, eurozone-wide inflation—predicted to average 8.5% for the year— continues to stagnate growth. A cost-of-living crisis will likely hinder the euro’s relative strength going forward.

The best time to trade EUR/USD is when both markets are open (between 1pm and 4pm UK time). During this open period, EUR/USD tends to be more liquid and spreads are generally tighter. Outside https://investmentsanalysis.info/ of these times, there tends to be more volatility, which could also provide opportunities to profit. These are the average exchange rates of these two currencies for the last 30 and 90 days.

The London-based consulting firm estimates a 1% growth rate in Europe compared to 2% in the U.S. If your aggregate position is larger than Tier 1, your margin requirement will Eur usd trading not be reduced by non-guaranteed stops. We encourage you to always conduct your own research before trading, make use of risk-management tools and keep your emotions in check.

You can manage risk while trading EUR/USD by using stop-losses and guaranteed stop losses, as well as take-profit orders and risk-reward ratio. You should always conduct your own due diligence before trading, and never trade more money than you can afford to lose. EUR/USD is the forex ticker that tells traders how many US Dollars are needed to buy a Euro.

It’s important to review your EUR/USD trading strategy on a regular basis by keeping a trading diary to track your performance and reflect on mistakes. Make sure to always conduct thorough due diligence before opening a position. View current IG trader sentiment and discover who is going long and short, the percentage change over time, and whether market signals are bullish or bearish.

Long-term forecasts are shaped by current prevailing economic conditions, and these can be revised subject to new market-moving information. The FOMC U.S. inflation forecast expects inflation to fall to 2.80% in 2023 and 2.30% in 2024. This is supported by the International Monetary Fund’s (IMF) predictions that inflation will fall to 3.50% in 2023 and 2.20% in 2024. While reduced inflation will put downward pressure on the dollar, future weakness will also depend on how inflation and the economic outlook in the U.S. compare to Europe.