Euro Exchange Rate News Index

The euro dollar exchange rate is 0.14 pct lower at 1.2912.
The euro pound exchange rate is 0.18 pct down at 0.8547.
The euro Australian dollar is 0.6 pct lower at 1.3349.

Please Note: The above quotes are taken from the wholesale spot markets - your bank will affix their own spread to these rates when passing on their retail offer. However, an independent FX provider will guarantee to undercut your bank; thus delivering you more currency. Please find out more here.

Commenting on the euro's outlook for today UniCredit Bank tell clients:

"Both London and New York resume activity today, but the daily agenda remains quite light with only US data in the afternoon really of interest. As a result, dull trading within familiar bands is likely to continue.

"EUR-USD is expected to remain in trading range today too, with US data unlikely to have a significant impact. Indeed, charts still see 1.30 and 1.2875 as the first key levels of interest."

Yesterday the calendar in Europe was empty.

European equities regained some ground after the correction in the second half of last week and showed nice gains of around 1 pct soon after the open. "This protected the downside in EUR/USD," says Piet Lammens at KBC Markets, "however there was no strong enough incentive to push equities or currencies beyond technically relevant levels. So, EUR/USD held a very tight sideways range in the 1.2930/40 area."

The economic data calendar remains thin in Europe and uneventful from trading perspective.


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The US calendar has more market moving potential with the CS house prices, the Richmond Fed manufacturing index and the May consumer confidence.

"After Bernanke’s hint last week that the Fed might consider scaling back the pace of asset buying at one of the the next few meetings, it has become even more interesting to keep a close eye on the US activity data and the market reaction to them," says Lammens

According to the analyst from KBC Markets it should be assumed that good US eco data are still (moderately) USD supportive.

Craig Erlam at Alpari is forecasting a bearish euro for the start of the week:

"The euro has remained bearish this week, after finding strong resistance again on Friday around 1.30, a major resistance level.

"The pair once again rebounded aggressively off the 50 fib level, highlighting the fact that there are huge amount of sell orders here, while plenty of long traders are clearly using this level to lock in profits. Around this level we also have the middle bollinger band, which the price action also rebounded off, and the 50 and 200-day SMAs. This is also a previous level of support and resistance so it’s going to take a big push to break it.

"For now though, it looks as though the pair is going to continue to push lower, with the next target being May’s lows around 1.2795, which is also the neckline of the major head and shoulders on the weekly chart. Along the way, the pair should find support around 1.29 and 1.2840."