Euro dips to 11-year lows vs. greenback, ECB move still weighs
The euro slipped to 11-year lows against the U.S. dollar on Friday, following the European Central Bank (ECB) announcement to pump more that trillion euros to support the euro zone.
The single currency retreated yesterday achieving the biggest daily loss in three years after ECB President Mario Draghi said it will make monthly purchases of €60 billion per month, starting in March and continuing until September 2016.
Despite the upbeat manufacturing data from euro zone countries released today, the euro continued its drop and the negative pressure is expected to remain in light of the historical quantitative easing measures.
The EUR/USD pair recorded fresh new lows since September 2003 around 1.1258, and is trading around 1.1183 at 12:02 GMT.
Forex and Currency News
Forex
US retail sales beat expectations in March
US retail sales rose 0.7% in March, beating estimates of a 0.4% increase, while down from 0.9% in ...
Forex
Euro tries to recoup from five-month trough amid bearish outlook
Euro rose in European trade on Monday against a basket of major rivals amid attempts to recoup from ...
Forex
Euro sharpens decline to five-month lows on concerns about the interest rate gap
Euro fell in European trade on Friday against a basket of major rivals, sharpening losses for the ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 16-04-2024
GBPUSD Price Forecast The GBPUSD price fluctuates positively now to head towards potential test ...
Forex
The EURUSD price forecast update - 16-04-2024
EURUSD Price Forecast The EURUSD price finds good support at 1.0600$ barrier, to show some ...
Forex
The EURGBP tends to resume the decline – Forecast today – 16-4-2024
EURGBP Price Analysis Expected Scenario The EURGBP pair confirmed its affection by the ...