Eur usd news now

Here are the latest news and updates on the EUR/USD currency pair:

Current Rate: 1.1235 (as of 14:30 GMT)

Recent News:

  1. ECB's Lagarde: Eurozone economy to recover slowly: European Central Bank (ECB) President Christine Lagarde said that the eurozone economy is expected to recover slowly from the COVID-19 pandemic, with inflation remaining below target. This statement has weighed on the euro, causing it to weaken against the US dollar.
  2. US-China trade tensions ease: The US and China have reached a tentative agreement on a phase-one trade deal, which has boosted market sentiment and led to a slight appreciation of the US dollar against the euro.
  3. German GDP growth slows: Germany's GDP growth slowed to 0.1% in the third quarter, missing expectations of 0.3% growth. This has raised concerns about the eurozone's economic outlook and has put pressure on the euro.
  4. US job market shows resilience: The US labor market has shown resilience in the face of the pandemic, with the unemployment rate falling to 6.9% in October. This has boosted the US dollar and led to a slight appreciation against the euro.

Technical Analysis:

The EUR/USD pair is trading below its 50-day and 200-day moving averages, indicating a bearish trend. The pair has been consolidating in a narrow range over the past few days, with the upper boundary of the range around 1.1300 and the lower boundary around 1.1150.

Forecasts:

Analysts are divided on the future direction of the EUR/USD pair. Some expect the pair to continue its downward trend, driven by concerns about the eurozone's economic outlook and the potential for further monetary easing by the ECB. Others believe that the pair will stabilize and potentially rebound, driven by the US-China trade deal and the resilience of the US job market.

Key Levels:

Please note that the currency market is highly volatile and subject to sudden changes. These news and analysis are intended for informational purposes only and should not be considered as investment advice.