The Euro posts solid gains against the US Dollar, though it faces stirring resistance at the 100-day moving average (DMA), which caps the pair's advance toward 1.0900.
EUR/USD rises to 1.0858, facing resistance at the 100-day MA, influenced by US data and Eurozone PMIs. Rising US jobless claims and trade deficit, alongside falling Treasury yields, weigh on the Dollar. Fed's cautious stance on rate cuts due to inflation, and stronger Eurozone services PMIs, support the Euro. The Euro posts solid gains against the US Dollar, though it faces stirring resistance at the 100-day moving average , which caps the pair's advance toward 1.0900.
Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .
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