Euro ($EUR/USD) Forex Forecast: Up 0.9% Today

What is Euro?

EUR/USD is a popular currency pair that represents the exchange rate between the Euro and the US Dollar. The Euro is the base currency, and the US Dollar is the quote currency. A bullish movement indicates that the Euro strengthened against the US Dollar in the market today.

Why is Euro going up?

EUR/USD forex is up 0.9% on Aug 2, 2024 12:55

• The Eurozone's higher-than-expected inflation rate of 2.6% in July may have boosted confidence in the Euro, leading to increased demand and a bullish movement in the EUR/USD pair.
• Positive results and upward guidance from Ferrari N.V. could have also contributed to a positive market sentiment towards European assets, including the Euro.
• The digital euro being touted as the "most private electronic payment option" may have sparked interest in the Euro as a digital currency, potentially attracting more investors to the currency.

EUR/USD Price Chart

EUR/USD News

Q2 2024 RESULTS CONFIRM STRONG EXECUTION AND CONTINUED GROWTH 2024 GUIDANCE REVISED UPWARD

Ferrari N.V. ( NYSE/EXM: RACE ) ( "Ferrari" or the "Company" ) today announces its consolidated preliminary results ( 1 ) for the second quarter and six months ended June ...

https://www.globenewswire.com/news-release/2024/08/01/2922607/0/en/Q2-2024-RESULTS-CONFIRM-STRONG-EXECUTION-AND-CONTINUED-GROWTH-2024-GUIDANCE-REVISED-UPWARD.html

Euro Manganese Confirms Third Fiscal Quarter 2024 Conference Call Details

VANCOUVER, British Columbia, July 31, 2024 ( GLOBE NEWSWIRE ) -- Euro Manganese Inc. ( TSX-V and ASX: EMN. OTCQB: EUMNF. Frankfurt: E06 ) ( the "Company" or "EMN" ) will file its Third Fiscal Quarter 2024 financial reports on August 14, 2024 and will host two separate conference calls to serve ...

https://www.globenewswire.com/news-release/2024/07/31/2922282/0/en/Euro-Manganese-Confirms-Third-Fiscal-Quarter-2024-Conference-Call-Details.html

Euro zone inflation rises to 2.6% in July, above expectations

Headline inflation in the euro zone unexpectedly rose to 2.6% in June, the European Union's statistics agency said Wednesday.

https://www.cnbc.com/2024/07/31/euro-zone-inflation-july-2024.html

JDE Peet's reports half-year results 2024

Strong, broad-based performance across top-line, profitability and cash flow ...

https://www.globenewswire.com/news-release/2024/07/31/2921547/0/en/JDE-Peet-s-reports-half-year-results-2024.html

Digital euro to be 'most private electronic payment option'

Since the inception of the digital euro, many critics have called the proposed digital currency a surveillance tool.

https://cointelegraph.com/news/digital-euro-private-electronic-payment

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Euro Price History

07.05.2024 - EUR/USD Forex was down 0.5%

• The decline in the EUR/USD currency pair today may be linked to:
• Concerns about the Eurozone's economic outlook related to the upcoming UEFA Euro 2024 tournament and its potential impact on the economy.
• Market uncertainty triggered by Italy's final squad announcement for Euro 2024, affecting the Euro's strength against the US Dollar.
• The renewed availability of crypto purchases using Visa and Mastercard on Binance, drawing investor interest away from traditional currencies like the Euro.
• Speculation surrounding the retirement of prominent football stars after Euro 2024, contributing to market instability in Europe and influencing the Euro's performance against the US Dollar.

13.01.2024 - EUR/USD Forex was down 0.5%

• The bearish movement in the EUR/USD today can be attributed to the following factors:
• 1. Improving Economic Sentiment in Eurozone: The attempt at recovery in the EUR/USD pair could be due to the improving economic sentiment in the Eurozone. This positive sentiment may have led to increased demand for the Euro, causing a temporary recovery in the pair.
• 2. US Inflation Stays in Focus: The focus on US inflation could have contributed to the bearish movement in the EUR/USD pair. If there are concerns about rising inflation in the US, it could lead to a stronger US Dollar and a weaker Euro, resulting in a bearish movement in the pair.
• 3. Speculative Net Longs in Euro Fall: The fall in speculative net longs in the Euro could also have played a role in the bearish movement. When speculators reduce their bullish bets on the Euro, it can lead to a decrease in demand for the currency and a subsequent decline in the EUR/USD pair.
• 4. German Bond Yields Slip: The slip in German bond yields, along with the prospect of a fairly imminent rate cut by the European Central Bank, could have added downward pressure on the Euro and contributed to the bearish movement in the EUR/USD pair.

02.07.2024 - EUR/USD Forex was up 0.9%

• The Eurozone's higher-than-expected inflation rate of 2.6% in July may have boosted confidence in the Euro, leading to increased demand and a bullish movement in the EUR/USD pair.
• Positive results and upward guidance from Ferrari N.V. could have also contributed to a positive market sentiment towards European assets, including the Euro.
• The digital euro being touted as the "most private electronic payment option" may have sparked interest in the Euro as a digital currency, potentially attracting more investors to the currency.