Euro ($EUR/USD) Forex Forecast: Down 0.5% Today

What is Euro?

The EUR/USD currency pair reflects the value of the Euro against the US Dollar. The Euro is used in the Eurozone, while the US Dollar is a widely accepted reserve currency globally.

Why is Euro going down?

EUR/USD forex is down 0.5% on Jun 7, 2024 12:45

• 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.

EUR/USD Price Chart

EUR/USD News

All you need to know about the Euro 2024 stadiums in Germany

UEFA Euro 2024 Germany stadiums: Where will the football final be played? Al Jazeera English ...

https://www.aljazeera.com/sports/2024/6/7/uefa-euro-2024-germany-stadiums-where-will-the-football-final-be-played

Italy coach Spalletti names final 26-man squad for Euro 2024, cuts Orsolini, Ricci, Provedel

FLORENCE, Italy ( AP ) - Italy coach Luciano Spalletti named his final 26-man squad for the European Championship on Thursday, with Riccardo Orsolini, Samuele Ricci and Ivan Provedel the players to miss out on the Azzurri's title defense.

https://apnews.com/article/italy-euro-2024-squad-1b5a2849c5681ea1f833aab477bcd895

Binance reinstates crypto buys with Visa, Mastercard payments

Binance has resumed allowing crypto purchases using Visa and Mastercard for its exchange users. Does this signal the end of Binance's regulatory troubles?

https://cointelegraph.com/news/binance-visa-mastercard-crypto-purchases-resume

Euro 2024: Which five superstars will retire after the tournament?

From Ronaldo to Kroos: who will retire after UEFA Euro 2024 in Germany? Al Jazeera English ...

https://www.aljazeera.com/sports/2024/6/5/uefa-euro-2024-top-5-stars-competing-in-their-last-euros

European markets head for a higher open as investors look ahead to ECB meeting

European stocks are expected to open higher Wednesday, with investors in the region looking ahead to the next meeting of the European Central Bank.

https://www.cnbc.com/2024/06/05/european-markets-stocks-news-data-and-the-next-ecb-decision.html

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Euro Price History

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.