The Euro (EUR) commences the European session with modest losses against the US Dollar (USD), prompting EUR/USD to gyrate around the 1.0550 region on
The Euro trades slightly on the defensive vs. the US Dollar. Stocks in Europe open Tuesday’s session with decent gains. EUR/USD’s upside falters around weekly highs near 10560. The USD Index remains propped up by the 106.20 zone. Germany, EMU ZEW survey takes centre stage in the old continent. US Retail Sales, Industrial Production, Fedspeak will be in the limelight. Tuesday. Simultaneously, the Greenback experiences a slight advance to the 106.30–106.
It is crucial to bear in mind that as long as EUR/USD remains below the 200-day SMA, the potential for sustained downward pressure persists. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
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