EUR/USD pared away further losses on Monday, rising nearly two-thirds of a percent as markets ease off the Greenback gas pedal and give the Euro a chance to come up for air.
EUR/USD clawed back further gains on Monday, adding back 0.65%. Despite near-term bullish momentum, Fiber remains buried deep in the bear zone. With another week of tepid economic data on the books, Euro remains exposed to market flows. Except for a midweek appearance from European Central Bank Christine Lagarde on Wednesday, the economic calendar remains tepid until Friday’s global rolling release of Purchasing Managers Index figures due on both sides of the pond.
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 . What is the ECB and how does it impact the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth.
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