The 18-block euro currency edged higher against the US dollar on Monday as market participants focus on the Eurogroup meeting in Brussels.
The euro climbed to its highest level since in three weeks during the Asian trading hours, as it rebounded from $1.3724 to trade nearly flat at $1.3702 against the US dollar at the time of writing.
Euro – Eurogroup Meeting
Finance ministers are meeting in Brussels for the Eurogroup meeting on Monday; the ongoing economic crises in Greece and Cyprus are expected to be discussed at the meeting, as well as further developments regarding the European Stability Mechanism (ESM).
Expected Reports & Closed Market
On Monday, the New York Stock exchange will be closed for the President Day holiday.
Market participants will be expecting housing and inflation reports as well as minutes from the Federal Open Market Committee’s (FOMC) meeting.
The US Federal Reserve released the factory output report on Friday, which revealed a 0.3% contraction, compared to analysts forecast of a 0.2% growth.
Other News
An Executive Board member of the European Central Bank, Benoit Coeure said the ECB would be ready to take action against the euro zone low inflation. “We are very vigilant regarding risks to our baseline scenario, which envisages inflation slowly going back to 2% over the medium term,” Coeure told the Slovenian newspaper Delo.
The European Central Bank kept its benchmark interest rate unchanged following its latest meeting. The ECB President Mario Draghi said the bank is ready to cut interest rates further if needed.
Visitwww.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
The 18-block euro currency edged higher against the US dollar on Monday as market participants focus on the Eurogroup meeting in Brussels.
The euro climbed to its highest level since in three weeks during the Asian trading hours, as it rebounded from $1.3724 to trade nearly flat at $1.3702 against the US dollar at the time of writing.
Euro – Eurogroup Meeting
Finance ministers are meeting in Brussels for the Eurogroup meeting on Monday; the ongoing economic crises in Greece and Cyprus are expected to be discussed at the meeting, as well as further developments regarding the European Stability Mechanism (ESM).
Expected Reports & Closed Market
On Monday, the New York Stock exchange will be closed for the President Day holiday.
Market participants will be expecting housing and inflation reports as well as minutes from the Federal Open Market Committee’s (FOMC) meeting.
The US Federal Reserve released the factory output report on Friday, which revealed a 0.3% contraction, compared to analysts forecast of a 0.2% growth.
Other News
An Executive Board member of the European Central Bank, Benoit Coeure said the ECB would be ready to take action against the euro zone low inflation. “We are very vigilant regarding risks to our baseline scenario, which envisages inflation slowly going back to 2% over the medium term,” Coeure told the Slovenian newspaper Delo.
The European Central Bank kept its benchmark interest rate unchanged following its latest meeting. The ECB President Mario Draghi said the bank is ready to cut interest rates further if needed.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
The post Euro Edges Higher; Eurogroup Meeting In Spotlight appeared first on | HY Markets Official blog.
Related Posts: