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EUR/USD, or Euro to Dollar exchange rate, is one of the most commonly traded pairs by volume1 – and has seen some big swings. It primarily impacted by the monetary policies and decisions of governments in both the US and Europe.
A key factor influencing EUR/USD is the interest rates of both the Federal Reserve (US) and the European Central Bank. The Fed releases its Federal Funds rate eight times yearly, while the ECB does so monthly.
Economic data affecting the US and EU economies, such as GDP, CPI, employment numbers, and durable goods orders, also impact the EUR/USD. Traders can use the Forex calendar at Admirals to track these critical events and their associated forecasts.
The GBP/USD is one of the world’s most popular forex pairs. It measures how much US dollars would be required to purchase a single British pound.
Its price is affected by various factors, including the monetary policies of the United States and the United Kingdom. The policies of these central banks influence interest rates and inflation, which affect the value of both currencies.
Economic indicators are also an essential driver of the euro currency exchange rate. Data like Retail sales and Non-farm Payrolls are used to gauge how consumer spending is trending in both countries.
The euro currency exchange rate can move drastically when the Federal Reserve or Bank of England announces changes in monetary policy. In particular, this has occurred with more aggressive hikes in interest rates in the U.S.
USD/JPY is among the most popular currency pairs in forex trading. Also known as the “gopher,” this pair is often used in carry trades, where traders sell low to purchase high-yielding currencies.
The main factor that influences the value of this pair is the interest rate differential between the Federal Reserve and the Bank of Japan. Generally, higher US interest rates make the dollar more attractive, increasing its value relative to the Japanese yen.
In addition, other factors can also have an impact on the USD/JPY. These include monetary policy, administration statements, and fiscal policy.
The USD/CHF, or the Swiss Franc to US Dollar exchange rate, is one of the most popular currency pairs in the forex market. It bridges two of the world’s largest economies and is a favorite among veteran traders because of its stability.
Several external elements, including the monetary policies of the United States and Switzerland, influence the pair. Traders can follow these policies to gauge how the value of this currency pair changes.
Traders should also keep an eye on important economic releases from the United States since this will often influence the price of the USD/CHF pair. This is especially true for essential jobs numbers and Fed rate decisions.
The EUR/USD currency pair is the most traded in the world. It represents the euro versus the United States dollar, and global economic events and government policies often influence it.
The euro currency exchange rate is a great way to compare currencies and helps you determine whether or not you should trade in one or the other. The euro currency exchange rate can be volatile, so it is essential to understand how it works and how to read it correctly.
The euro currency exchange rate fluctuates based on market conditions and supply and demand. The spread can also influence it, which is the difference between the bid and ask price.