On Wednesday, February 24, the euro was beginning to make gains against the U.S. dollar after losing quite a bit of strength over the last several days before this. In pre-U.S. trading hours, the euro gained some traction, then lost it right before the New York markets opened for business. After a few hours, though, the EUR/USD had risen by more than 20 pips, and was continuing to show signs of strength. The euro had made a lot of gains…
The euro has made noticeable gains against the U.S. dollar over the last week, appearing to be on the rebound after hitting a new recent low on March 2nd. The EUR/USD bottomed out at 1.0866, and now stands up over 1.103, as of Tuesday morning. The trend is upward for the moment, but traders need to be cautious here, particularly because even the professionals are saying that this trend is likely to be short lived. Let’s take a quick look…
Some experts are expecting the euro to back off its growth in the coming weeks, especially in comparison to the U.S. dollar. Over the last two weeks, the euro has become stronger against the USD, leading to a decline in European stock prices. For those making economic policy decision in the Eurozone, this has been quite frustrating as the European market was beginning to show signs of recovery. The strong euro has hurt this a bit, so a declining euro…