EUR/USD hit a fresh ten-week low on Monday, kicking off a new trading week with renewed declines.
EUR/USD is set to decline for a third straight week against the Greenback. Fiber kicked off the new trading week finding fresh lows as Euro confidence wanes. ECB is set to trim rates by another 25 bps this week. The Euro shed one-quarter of one percent against the Greenback, knocking into the 200-day Exponential Moving Average as USD strength parlays with a broadly weakening EUR.
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 . 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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