Euro trading sideways

The euro is broadly unchanged versus the US dollar as there is little in the way of news to move the currency.

EUR/USD has been trading within a tight range this morning. Dealers are torn between the Federal Reserve and the eurozone debt crisis. Yesterday, Jon Hilsenrath of the Wall Street Journal wrote an article stating he believes the Federal Reserve will keep its quantitative easing scheme unchanged at its meeting next month, despite recent speculation that the Fed will trim the stimulus package towards the end of the year. A reduction in the $85 billion monthly stimulus could lead to a sell-off in the euro.

In European news, Greece was given a €2.5 billion tranche of bailout by the Troika, and this will prevent the indebted nation from going bankrupt. There was little reaction from traders, as it comes as no surprise that the Athens received the money. Even though traders are not immediately worried about the eurozone debt crisis resurfacing, its presence in the background may lead to another round of euro selling.

Spot FX EUR/USD chart

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.