Get The Week Ahead, our free rundown of the coming week’s market-moving events and forex pairs to watch, delivered to your inbox every Sunday. Check live rates, send money securely, set rate alerts, receive notifications and more. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs. Compare our rate and fee with our competitors and see the difference for yourself. As of July bonds safety and market crashes 2024, 20 of the 27 EU member countries use the euro, including the most recent addition, Croatia, which adopted the currency in January of 2023. According to the latest ECB figures, there are over 29 billion euro banknotes in circulation with a combined value upwards of €1.5 trillion.

Euro to US dollars

You could say that the euro and the US dollar are safe currencies, because both have traditionally been viewed as ‘safe havens’. However, forex is a volatile market and currency values fluctuate continuously. So, whether EUR and USD are safe currencies will always depend on liquidity, volatility and economic events (such as Brexit).

Find opportunity on the world’s most-traded – and most-volatile – financial market. It is important to carefully manage your risk when trading forex. Open a free, no-risk demo account to stay on top of index movement and important events. In other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

Top currency pairings for Euros

For example, the interest rate differential between the European Central Bank (ECB) and the Federal Reserve (Fed) can have a major influence on the value of these currencies when compared to each other. When the Fed intervenes in open market activities to make the U.S. dollar stronger, the value of the EUR/USD cross could pull back or decline due to strengthening U.S. dollar compared to the euro. The euro – now used by 19 EU countries – is the second largest, with the Japanese yen (JPY) in third place and the pound (GBP) in fourth. Use this to see how IG client accounts with positions on this market are trading other markets. Data is calculated to the nearest 1%, and updated automatically every 15 minutes.

Your total risk is not limited to your initial outlay, and gains and losses will be based on the full trade value. Correctly sizing your position should ensure that any losses sustained are manageable. EUR/USD is open/active from 9pm Sunday all the way through until 10pm Friday UK time. However, it is the most active when the European and US trading sessions overlap between 1pm and 4pm UK time.

Euro to US Dollar stats

It also makes the euro one of the most heavily traded currencies in the forex market, second only to the U.S. dollar. Economic data releases can impact the price of the EUR/USD currency pair, as they indicate potential strengths or weaknesses in the underlying economy. A strengthening economy usually leads to a higher currency, as it may influence growth or interest rate expectations. Inflation, balance of payments, employment and GDP are some of the important data releases.

It is important to understand that the base currency of the pair is fixed and always represents one unit. Thus, the source of the strengthening or weakening is not reflected in the rate. The EUR/USD rate can increase because the euro is getting stronger or the U.S. dollar is getting weaker. Either condition results in an upward movement in the rate (price) and a corresponding upward movement in a price chart. Unlike a price chart for a stock where the indicated price directly represents a price for the stock, the price listed on a price chart for a currency pair represents the exchange rate of the two currencies. Therefore, the directional indication of a chart corresponds to the base currency.

You need to ensure that you build up knowledge about the factors that impact the EUR/USD exchange rate, including potential catalysts and upcoming events and data releases. You can use the IG Academy to help improve your understanding of trading and consult our economic calendar for upcoming data releases. The EUR/USD exchange rate, like all foreign exchange trading, is impacted by macroeconomic, geopolitical and central bank factors. However, the most popular times to trade EUR/USD (or any currency pair) is when it is most active – when the highest volume and number of transactions are taking place. When there is more volume, there is increased liquidity and higher volatility. These create larger moves in the price of EUR/USD and more trading opportunities.

The Eurozone includes countries like Germany, France, Spain and Italy. Each country releases their economic data separately, so there are a large number of data points that need to be monitored. Some ETPs carry additional risks depending on how they’re structured, investors should ensure they familiarise themselves with the differences before investing. Options and futures are complex instruments which come with a high risk of losing money rapidly due to leverage. Before you invest, you should consider whether you understand how options and futures work, the risks of trading these instruments and whether you can afford to lose more than your original investment.

The percentage of IG client accounts with positions in this market that are currently long or short. Stay on top of upcoming market-moving events with our customisable economic calendar. Try a risk-free trade in your demo account, and see whether you’re onto something.

EUR is the currency code for the euro and USD is the currency code for the US dollar. EUR/USD (or euro-dollar) does not have a very long history, as the euro only came into existence as a digital currency in January 1999 and a physical currency in 2002. However, this young forex pair quickly became the most popular by trading volume. Remember, trading with spread bets or CFDs comes with added risk attached to leverage. Your position will be opened at a fraction of the value of the total position size – but you can gain or lose money much faster than you might expect. You could lose more than the initial margin that you paid, and your potential profits and losses are magnified.

1. Inflation, balance of payments, employment and GDP are some of the important data releases.
2. During this open period, EUR/USD tends to be more liquid and spreads are generally tighter.
3. However, forex is a volatile market and currency values fluctuate continuously.
4. Elections and government policy decisions can have a large impact too.
5. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs.

IG accepts forex capital markets announces 56 layoffs at plano office following deal with regulators no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.

Our smart tech means we’re more efficient – which means you get a great rate. You can profit from trading EUR/USD if you trade the currency pair via spread bets or CFDs. If you think that EUR is going to increase against USD, you would buy the pair (go long). If you think that the euro will decrease in value against the US dollar, you would Backtesting sell the pair (go short).

These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs. Elections and government policy decisions can have a large impact too.