Euro ($EUR/USD) Forex Forecast: Down 1.5% Today

What is Euro?

EUR/USD Currency Pair: The EUR/USD currency pair reflects the exchange rate between the Euro and the US Dollar, with the Euro being the official currency of the Eurozone and the US Dollar being the official currency of the United States. This pair is highly traded in the forex market.

Why is Euro going down?

EUR/USD forex is down 1.5% on Nov 22, 2024 9:12

• The decline in the EUR/USD currency pair today may be linked to:
• Unaudited financial data from JSC 'Siguldas ciltslietu un mākslīgās apsēklošanas stacija' indicating a decrease in pre-tax profits compared to the previous year, suggesting potential economic hurdles in the Eurozone.
• A positive trading update from Aegon, a life insurance company, bolstering investor optimism in the US economy and strengthening the US Dollar against the Euro.
• Aegon's strong capital ratios in its primary units could indicate stability and growth prospects in the US market, further enhancing the US Dollar's position relative to the Euro.

EUR/USD Price Chart

EUR/USD Technical Analysis

EUR/USD News

JSC 'Siguldas ciltslietu un mākslīgās apsēklošanas stacija' unaudited financial information for nine months of 2024

In the nine months of 2024, the net turnover was 1,193.3 thousand. EUR, which is 6.4% more than in the nine months of the previous year, but the profit before taxes was 84.4 thousand. EUR - by 31.9 thousand euro less compared to the corresponding period of the previous year.

https://www.globenewswire.com/news-release/2024/11/21/2985301/0/en/JSC-Siguldas-ciltslietu-un-m%C4%81ksl%C4%ABg%C4%81s-aps%C4%93klo%C5%A1anas-stacija-unaudited-financial-information-for-nine-months-of-2024.html

Life Insurance Firm Aegon Trades Higher As Capital Ratios 'Remain Solid' - Aegon ( NYSE:AEG )

In its third-quarter trading update, the company reported 336 million euros ( $353.91 million ) in operating capital generation and raised its full-year 2024 guidance to 1.2 billion euros, up from 1.1 billion euros. Capital ratios for its main units remain solid, well above operating levels.

https://www.benzinga.com/trading-ideas/movers/24/11/42012689/life-insurance-firm-aegon-trades-higher-as-capital-ratios-remain-solid

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Euro Price History

22.10.2024 - EUR/USD Forex was down 1.5%

• The decline in the EUR/USD currency pair today may be linked to:
• Unaudited financial data from JSC 'Siguldas ciltslietu un mākslīgās apsēklošanas stacija' indicating a decrease in pre-tax profits compared to the previous year, suggesting potential economic hurdles in the Eurozone.
• A positive trading update from Aegon, a life insurance company, bolstering investor optimism in the US economy and strengthening the US Dollar against the Euro.
• Aegon's strong capital ratios in its primary units could indicate stability and growth prospects in the US market, further enhancing the US Dollar's position relative to the Euro.

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.

06.10.2024 - EUR/USD Forex was down 0.2%

• The Euro zone inflation rising higher than expected to 2% may have strengthened the euro, but surprisingly, it had the opposite effect on the EUR/USD pair, leading to a bearish trend.
• The announcement of Euro Sun's $2.15 million private placement might have caused some uncertainty or volatility in the euro, contributing to the downward pressure on EUR/USD.
• The bullish movement in the BTC price, reaching an all-time high against the euro, could have diverted investor attention and capital away from traditional currencies like the euro, impacting the EUR/USD pair negatively.

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.