Euro Exchange Rate News

Euro to US Dollar (EUR/USD) Exchange Rate Forecast: Euro Advances This Morning ahead of Vital GDP Stats


The Euro to US Dollar (EUR/USD) exchange rate has risen marginally today, while the common currency has made mostly sizable gains elsewhere.

EUR/USD Exchange Rate News: German Production Stats Pull Through for January

The Euro (EUR) has been on an uptrend overall today, having been bolstered by the morning’s German industrial production figures for January. On the month, a rise from -0.3% to 3.3% has been recorded, while on the year a similarly supportive increase from -1.3% to 2.2% has been seen.

Other Eurozone announcements have been less supportive; France’s January trade balance has remained in a state of deficit, while Spain has printed a slight dip in annual industrial production in January. This source of negativity has been added to by uncertainties surrounding the impending European Central Bank (ECB) policy decisions.

Euro gains have included 0.4% against the Canadian Dollar (EUR/CAD), 0.6% against the Australian Dollar (EUR/AUD), 0.9% against the Indian Rupee (EUR/INR) and 1.7% against the South African Rand (EUR/ZAR).

US Dollar (USD) Exchange Rate Stable after Fed Speeches

The US Dollar’s (USD) appeal has been consistently high today, with the likely cause being the recent speeches from Federal Reserve Vice Chair Stanley Fischer and Board of Governors member Lael Brainard.

The reason for the ‘Buck’ not rising universally is likely because the two policymakers offered conflicting messages; Brainard emphasised the dangers of acting on instinct when making policy decisions, saying that ‘from a risk-management perspective, this argues for patience as the outlook becomes clearer’.

Fischer, on the other hand, declared more optimistically that ‘we may well at present be seeing the first stirrings of an increase in the inflation rate’, something strongly correlated to the likelihood of the Fed raising the interest rate in the future.

US Dollar gains today have been made up of 0.4% against the New Zealand Dollar (USD/NZD), 0.7% against the Indian Rupee (USD/INR) and 1.2% against the South African Rand (USD/ZAR).

EUR/USD Exchange Rate Forecast: Eurozone GDP and US Business Optimism due Today

The Euro (EUR) is likely to be moved first in the near future, as the Q4 Eurozone GDP stats are expected to be released shortly. On both the quarter and the year, expectations are for respective reprints at 0.3% and 1.5% relative to the previous quarter.

Later in the morning, the US’s NFIB small business optimism result is expected to be announced, with current predictions for a rise from 93.9 points to 94.1.

Current EUR, USD Exchange Rates

The Euro to US Dollar (EUR/USD) exchange rate was trending in the region of 1.1026 and the US Dollar to Euro (USD/EUR) exchange rate was trending in the region of 0.9073 today.

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