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Your profit or loss will depend on how accurate your prediction is, meaning it is possible to profit whichever way the market moves. One of the most closely watched currency pairs today is EUR/USD – also called the euro-dollar. This forex pair is particularly interesting in light of Brexit and the US-China tensions.
WTI is forming short-term bullish reversal patterns on the daily and weekly charts. Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs. IG is a trading name of IG Limited a company registered at 2702 & 2703 Level 27, Tower 2, Al Fattan Currency House, DIFC, Dubai, United Arab Emirates. IG is authorised and regulated by the Dubai Financial Services Authority (DFSA) under reference No. EUR/USD is referred to as ‘euro-dollar’ because it’s the pairing of the euro – the currency of 19 European countries – and the US dollar. EUR is the currency code for the euro and USD is the currency code for the US dollar.
The US economic calendar will feature the University of Michigan’s Consumer Sentiment Survey for September, which is unlikely to influence the USD’s valuation. FTSE 100 from 4 points and more 24-hour markets than anywhere else. Stay on top of upcoming market-moving events with our customisable economic calendar. Try a risk-free trade in your demo account, and see interactive brokers forex review whether you’re onto something. Find opportunity on the world’s most-traded – and most-volatile – financial market.
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About Euro / U.S. Dollar
Find out how you can take advantage of EUR/USD price movements with IG. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. Gold preserves its bullish momentum and trades near $2,580 after setting a new record-high slightly above this level. The 10-year US Treasury bond yield stays in the red below 3.7% as markets reassess the odds of a large Fed rate cut, helping XAU/USD push higher. The European Central Bank (ECB) lowered the benchmark interest rate, the deposit facility, by 25 basis points (bps) to 3.5% as expected.
Investors look to Fed and BoJ meetings next week for a fresh directional impetus. For more info on how we might use your data, see our privacy notice and access policy and privacy webpage. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority.
EUR/USD Forecast and News
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The ECB also lowered interest rates on the marginal lending facility and the main refinancing operations by 60 bps. “The Governing Council will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of restriction,” the ECB noted in the policy statement. In the post-meeting press conference, ECB President Christine Lagarde refrained from hinting at the timing of the next rate cut. Use this to see how IG client accounts with positions on this market are trading other markets.
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Improve your trading skills by working through interactive courses on the IG Academy app. If your aggregate position is larger than Tier 1, your margin requirement will not be reduced by non-guaranteed stops.
While this may increase your profits, it could also magnify your losses. The best time to trade EUR/USD is when both markets are open (between 1pm and 4pm UK time). During this open period, EUR/USD tends to be more liquid and spreads are generally tighter.
Outside of these times, there tends to be more volatility, which could also provide opportunities to profit. When trading euro-dollar, you should watch out for economic reports, political events and monetary policies that move the price of EUR/USD. Recurring events such as European Central Bank (ECB) and Federal Reserve Bank announcements, as well as developments concerning Brexit and US-China trade discussions impact the price of euro-dollar.