55 ITM on the EURUSD on June 6, 2013

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Euro (EUR) to US Dollar (USD) Historical Exchange Rates on 9th June 2020 (09/06/2020)

On June 09, 2020 the Official EUR to USD Exchange Rate:

Close: 1 EUR = 1.3206 USD

Best: 1 EUR = 1.3206 USD

Worst: 1 EUR = 1.3206 USD

Today’s Live Euro to US Dollar Spot Rate:

Live: 1 EUR = 1.0864 USD

09/04/2020 vs 09/06/2020 CLOSE = -17.73%

09/04/2020 vs 09/06/2020 HIGH = -17.73%

09/04/2020 vs 09/06/2020 LOW = -17.73%

Last 180 days EUR/USD history: EUR/USD historical rates

EUR/USD Conversion History Table

Compare various denominations for the Euro / US Dollar exchange rate conversion on the 9th June 2020 using the data table below.

Euro converted into US Dollar US Dollar converted into Euro Date
1 EUR = 1.3206 USD 0.75723 EUR = 1 USD on 09/06/2020
5 EUR = 6.6030 USD 3.7862 EUR = 5 USD on 09/06/2020
10 EUR = 13.206 USD 7.5723 EUR = 10 USD on 09/06/2020
15 EUR = 19.809 USD 11.358 EUR = 15 USD on 09/06/2020
20 EUR = 26.412 USD 15.145 EUR = 20 USD on 09/06/2020
25 EUR = 33.015 USD 18.931 EUR = 25 USD on 09/06/2020
50 EUR = 66.030 USD 37.862 EUR = 50 USD on 09/06/2020
100 EUR = 132.06 USD 75.723 EUR = 100 USD on 09/06/2020
500 EUR = 660.3 USD 378.62 EUR = 500 USD on 09/06/2020
1000 EUR = 1321 USD 757.2 EUR = 1000 USD on 09/06/2020
2500 EUR = 3302 USD 1893 EUR = 2500 USD on 09/06/2020
5000 EUR = 6603 USD 3786 EUR = 5000 USD on 09/06/2020
10000 EUR = 13206 USD 7572 EUR = 10000 USD on 09/06/2020
25000 EUR = 33015 USD 18931 EUR = 25000 USD on 09/06/2020
50000 EUR = 66030 USD 37862 EUR = 50000 USD on 09/06/2020
100000 EUR = 132060 USD 75723 EUR = 100000 USD on 09/06/2020
250000 EUR = 330150 USD 189308 EUR = 250000 USD on 09/06/2020
500000 EUR = 660300 USD 378616 EUR = 500000 USD on 09/06/2020
1000000 EUR = 1320600 USD 757232 EUR = 1000000 USD on 09/06/2020

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Pound-Euro Exchange Rate Dips as European Solidarity in Focus

CORONAVIRUS, GBP LIVE TODAY, GBP TO EUR, GBP TO USD

Forecast for EUR/USD and GBP/USD on June 27. The Fed and Jerome Powell are waiting for the outcome of the G20 summit

As seen on the 4-hour chart, the EUR/USD pair performed another reversal in favor of the US dollar and strengthened under the correction level of 76.4% (1.1367). Thus, the fall of quotations can be continued in the direction of the next correction level of 61.8% (1.1318). The US dollar received some support from traders after the day before yesterday’s words of Jerome Powell that he doubts the rate reduction at the next Fed meeting in July. The Federal Reserve takes a wait-and-see position, and it is most likely waiting for the summit, in which the leader of China and the United States should meet to continue the negotiations on a trade agreement between the two countries, which were interrupted a few months ago. If this does not happen or the negotiations fail, the Fed may reduce the rate in July, as the downward risks to the US economy will increase again. But Donald Trump believes that the Fed is simply obliged to reduce the rate, as the States cannot compete with China because of this. China may loosen its yuan, in which Trump has repeatedly accused him, but the President of the United States has no such effect on the rate. As a result, all the attention of the Forex market this week will be focused on the G20 summit, after which it will be possible to draw some conclusions about the future relations between China and America.

The Fibo grid is built on extremums from March 20, 2020, and May 23, 2020.

Forecast for EUR/USD and trading recommendations:

The EUR/USD pair performed a consolidation below the correction level of 76.4%. Thus, I recommend selling the euro with a target of 1.1318, a protective order above the Fibo level of 76.4%. I recommend buying the EUR/USD pair after the close of quotations above the level of 76.4% for the purpose of a correction level of 1.1448 and a stop-loss order under 1.1367.

After the formation of the bearish divergence at the CCI indicator, the GBP/USD pair performed a fall towards the correction level of 76.4% (1.2661). However, today, on June 27, a bullish divergence was formed in the CCI indicator, as well as the pound/dollar pair rebounded from the level of 76.4%. As a result, the pair may start the growth process towards the corrective level of 61.8% (1.2798). The consolidation of the rate under the level of 76.4% will increase the likelihood of a continuation falling towards the next correction level of 100.0% (1.2437). There is a lot of news from the UK in recent days, but they all have little effect on the English currency. Boris Johnson put forward an ultimatum to the European Union: if the EU does not agree to revise the current agreement on Brexit, London will refuse to pay 50 billion euros of compensation and leave the EU on the “hard” option. The European Union replied that there would be no revision of the agreement, and it is ready for the “hard” option. Meanwhile, the UK is still “decapitated.” Theresa May formally remains in her post as Prime Minister, but in fact, she no longer leads the country. And the name of the new Prime Minister will be known on July 23. That is, for a whole month, there will be no progress in Brexit issues.

The Fibo grid is built on the extremes of January 3, 2020, and March 13, 2020.

As seen on the hourly chart, the pound/dollar pair fulfilled three days from the correction levels of 61.8% (1.2665) and 76.4% (1.2701) just yesterday, and it remained to trade between them. Traders also received a semblance of a side channel, very narrow, from which the pound has to get out now. Strong levels on both charts do not allow the pair to go further down, but at the same time, the closing below the Fibo level of 61.8% will significantly increase the chances of the pair to continue falling in the direction of correction levels of 50.0% (1.2634) and 38.2% (1.2603).

The Fibo grid is based on the extremes of June 7, 2020, and June 18, 2020.

Forecast for GBP/USD and trading recommendations:

The GBP/USD pair performed a fall towards the correction level of 61.8%. I recommend selling the pair with the targets of 1.2634 and 1.2603, with the stop-loss order above 1.2665, if the closing is performed under the level of 61.8% (hourly chart). I recommend buying the pair with the purpose of 1.2762 if the closing above the Fibo level is 76.4% and stop-loss order under 1.2701 (hourly chart).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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Reading time: 11 minutes

he Euro versus US dollar (USD) is the most popular currency pair by traded volume in the world. It’s so established today, that it’s easy to forget that fewer than 20 years ago, the Forex (FX) pair didn’t even exist. This article is going to take a brief look at the EUR to USD history. We’ll take a look at the origins of the FX pair, before investigating how central bank action and other factors have affected its Forex historical data.

Genesis of a Currency

The Forex markets in the the late 90s were significantly different from the way they are today. Back then, the German Deutschmark against the US dollar was one of the big pairs, along with the French Franc versus the US dollar.

It didn’t take long before the course of currency conversion history changed however, because on 1 January 1999, the Euro came into existence. The journey leading to the euro began decades before. There were also earlier versions of Euro, in the form of internal accounting units for the European Community members:

  • The European unit of account
  • The European currency unit (ECU)

These were not true currencies however.

Instead, they were baskets of certain EC currencies, designed to aid stability in European exchange rates. Thus, they helped pave the way for a single currency. The ECU basket of EC currencies had a slightly different composition to those that would comprise the Euro. Despite this difference in composition, the ECU played a crucial role in the historical exchange rate of the Euro. This is because the value of one Euro was set as the value of one ECU at its inception on 1 January 1999.

This made the original Euro Dollar exchange rate 1.1686. Though the Euro wouldn’t become a physical currency until 2002, the Euro launch at the beginning of 1999 tied the ratio of these Eurozone currencies together. Thus, the French Franc, the German Deutschmark, the Spanish Peseta, the Italian Lira, etc. ceased to have separate, floating historical FX rates after this point.

Instead, they were effectively pegged to the value of the Euro until they were completely folded into the shared currency we know today. Many saw the Euro in its early days as a contender to usurp the Dollar’s unofficial title as the global reserve currency. While this could yet still happen, the Dollar still retains its crown by some margin.

So what has affected the history of EUR/USD?

While the short-term ebb and flow of the Euro to Dollar exchange rate can be influenced by a huge number of factors, the long-term performance of the currency pair has been driven by various fundamentals. Naturally, these are the same factors affecting currency rates as a general rule, no matter which FX pair you look at.

Two important factors that affect exchange rates in general are: the strength of the underlying economy, and monetary policy, which is implemented by the pertinent central bank. Of course, the latter is very much tied to the former. As the timeframes shorten, speculation starts to come into focus more and more. Therefore, expectations over central bank policy also have a major impact. If we look at the US Dollar to Euro exchange rate history, we can see some clear examples.

Many of these occurred after one of the biggest reductions in the Euro vs USD history: the global financial crisis that began in 2007. The stresses placed by this event on economies around the world forced a sequence of extraordinary responses from central banks. But here’s a key part of the puzzle: the response wasn’t uniform. The divergence in policy between the US Federal Reserve and the European Central Bank (ECB) in particular was pronounced.

How did they differ?

The Fed made early and aggressive moves to stimulate the US economy with three different tranches of quantitative easing (QE). In contrast, the ECB resisted QE for an extended period. When it finally began purchasing sovereign bonds as a stimulus measure, it was several years behind the FED.

Why did they differ?

The FED has a dual mandate:

  • To foster maximum employment
  • To stabilise prices

In contrast, the ECB’s primary objective is solely price stability. This disparity in policy consequently led to some interesting effects on the Euro-Dollar exchange rate. In fact, for an extended period, the most important EUR/USD Forex news stories tended to be about FED stimulus. Another major issue facing the Euro was the Eurozone sovereign debt crisis. Certain member states had crippling amounts of national debt.

The uniform nature of monetary policy for the shared currency posed a thorny problem: you cannot tailor measures to the specific needs of different nations with a ‘one-size-fits-all’ monetary policy. This led to some questioning whether the single currency would even survive. Let’s look at the specifics of the Euro against the Dollar over the period in question.

Here’s a weekly EUR/USD chart dating back to 2007:

Source: Admiral Markets MetaTrader 5, EURUSD, Weekly – Data range: from Nov 13, 2005, to Sept 6, 2020, accessed on Sept 6, 2020, at 13:00 BST. – Please note: Past performance is not a reliable indicator of future results.

Some of the key events for the period are marked on the chart above, so that we can see how they affected the Dollar Euro exchange rate history.

Euro Dollar Exchange Rate History Since 2007

The labelled events in EUR/USD history are as follows:

Date

Event

Effect

18 September 2007

FED cuts Fed funds rate by 50 basis points

Euro strengthened against Dollar

16 December 2008

FED cuts rates to near zero

Euro strengthened against Dollar

19 October 2009

The newly-elected Greek government revises deficit forecasts from 6.7% of GDP to 12.7% of GDP

Euro weakens against Dollar

Moody’s downgrades Greek debt by seven notches to junk status

Euro weakens against Dollar

18 December 2020

FED announces ‘tapering’ of stimulus will begin in January 2020

Euro weakens against Dollar into February 2020

ECB president Mario Draghi prepares the market for QE, stating that it ‘ falls squarely in our mandate.’

Euro weakens against Dollar

22 January 2020

ECB introduces full blown QE

Euro weakens against Dollar


8 13 December 2020 Fed hikes interest rates for first time in a decade. Euro strengthens against Dollar
9 8 November 2020 Donald Trump wins US Presidential election. Euro weakens against Dollar
10 26 October 2020 ECB halves 60 billion EUR bond-buying programme Euro strengthens against Dollar
11 13 December 2020 ECB ends 2.5 trillion EUR QE stimulus programme Euro weakens against Dollar
12 25 July 2020 ECB President Mario Draghi prepares for interest rate cut as growth slows Euro weakens against Dollar

EUR/USD historical data shows a reasonably clear response to each of these events. Having looked at the currency rate by date, and having established that Euro to Dollar history is clearly influenced by central bank action – how do we gain insight into what that action might be?

For instance, the better our forecast for FED action, the better our ability to roughly forecast EUR/USD. Needless to say, this is easily said than done. A smart way of testing your forecasts without risking money though, is with a demo trading account. A Forex demo trading account enables traders to trade with virtual currency, in a risk-free trading environment, using real-time price information.

Here’s the good news: one of the upshots of the financial crisis was increased communication from the FED. The central bank is reasonably explicit about which metrics inform its decision making. A key yardstick is the labour market, because of the FED’s mandate to pursue maximum employment.

This is a reason why the monthly employment situation report is one of the most closely watched indicators in the Forex Calendar. The report contains monthly non-farm payroll (NFP) data. One of the reasons the data is so closely followed is that it has historically shown a strong correlation to US GDP growth.

GDP data is released quarterly and hence far less frequently, and with greater delay than the payroll data. The FED therefore uses the non-farm payrolls as a proxy for the health of the economy. A strong economy, with a tight labour market, is likely to increase inflationary pressures. This has implications for the price stability side of the FED’s dual mandate. To reduce a complex subject to simple terms:

  • The weaker the payroll report, the more likely the FED is to loosen the monetary policy
  • The stronger the payroll report, the more likely the FED is to tighten the monetary policy

A tighter policy means greater returns on Dollar deposits and should, in theory, increase the attractiveness of the Dollar. Therefore, a tighter policy is bullish for the Dollar, with all other factors affecting exchange rate being equal. In reality, the FX rate history for EUR/USD can be more complex than this. That is because all other factors are rarely equal. Bear in mind, it is often the outcome of the data with respect to expectations that drives short-term direction.

Let’s look at a daily Euro to Dollar chart covering part of 2020

Source: Admiral Markets MetaTrader 5, EURUSD, Daily – Data range: from April 19, 2020, to Sept 6, 2020, accessed on Sept 6, 2020, at 13:00 BST. – Please note: Past performance is not a reliable indicator of future results.

The red lines on the chart above mark the release dates of the US employment report. We generally see larger candles (from high to low) representing increased trading activity. In half of the cases the news has also changed the preceding trend of the currency. Another interesting thing shown by this Euro to Dollar chart is the volatility.

In the graph above, the trader has plotted the Average True Range (ATR) – a measure of volatility, beneath the chart. You can read more about volatility and ATR in our article on the most volatile currency pairs. The release of non-farm payrolls is generally accepted as being a time of brisk price movements.

Looking at the ATR levels, you might argue that there are minor upward blips in volatility on each day of the NFP report, but it’s not clear that there is any large impact on the historical currency exchange rate on these days. ATR is one of the standard indicators that comes with MetaTrader 4. If you’re interested in gaining access to an even wider selection of custom-made indicators, you should consider downloading MetaTrader 4 Supreme Edition. It’s a custom-made plugin for MetaTrader 4, and it’s available to traders free of charge.

International Trade and Foreign Exchange Rates

When the value of a country’s imports exceeds its exports, it is known as a trade deficit. Running a long-term trade deficit should lead to a flow of wealth out of the country, and theoretically, a decline in the value of the currency. However, the US has been running huge trade deficits for an extended period.

Despite this, the Euro to Dollar exchange rate history shows no evidence to back up the idea of a declining Dollar. An explanation for this is the extensive use of the Dollar as a reserve currency: this means that demand has been high enough to counter such depreciation.

Did you know you can test out your theories on the movements of the EUR/USD completely risk-free by using a demo trading account? This means that traders can avoid putting their capital at risk, and they can choose when they wish to move to the live markets. For instance, Admiral Markets’ demo trading account enables traders to gain access to the latest real-time market data, the ability to trade with virtual currency, and access to the latest trading insights from expert traders.

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A Final Word on Euro to Dollar History

Of course, the Dollar to Euro history is as complex as you care to make it. We have touched upon some key areas in this article, but there are many more factors that affect historical foreign exchange rates. There are various geopolitical risks, such as war and elections, as well as economic variables, such as output levels, demand, and the supply of money.

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If you’re feeling inspired to start trading, or this article has provided some extra insight to your existing trading knowledge, you may be pleased to know that Admiral Markets provides the ability to trade with Forex and CFDs on up to 80+ currencies, with the latest market updates and technical analysis provided for FREE! Click the banner below to open your live account today!

About Admiral Markets
Admiral Markets is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world’s most popular trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today!

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Analysis EUR/USD. The Euro is reaching stability late in the week

The major currency pair is less volatile late in the week, but market players remain nervous and area ready to act.

On Friday morning, there is a slight correction in EURUSD after yesterday’s attempt of the pair to update its highs. The current quote for the instrument is 1.1267.

The results of the June ECB meeting that was over yesterday were pretty optimistic for the European currency: the regulator commented on the long-term TLTRO program, which was announced to be quite wide and intensive. In addition to that, the ECB said it wasn’t going to increase the rate until the middle of 2020 at least. Taken together, these factors helped EURUSD grow a little bit.

In the morning, Germany is going to report on the Industrial Production for April, which may lose 0.4% m/m after adding 0.5% m/m the month before. This may make the European currency fall in the first half of the day.

The first Friday of every month is the time when the USA are publishing Non-Farm Employment Change. The May report may show 180K after 263K in April.

One should remember that the there is no direct correlation between the NFP and the ADP report that was published earlier. There are common aspects, but decline in one of them doesn’t necessarily mean the same in the other.

Another important reading, the Unemployment Rate, is widely expected to remain unchanged at 3.6%. one more report that is definitely worth paying attention to is the Average Hourly Earnings. The indicator may add 0.3% m/m in May after expanding by 0.2% in the previous month. As usual, the stronger the readings, the better for the American currency.

A bit later, the USA are scheduled to report on the Wholesale Inventories for April, which is expected to remain the same as the month before. Finally, the Consumer Credit, which may show 11.5B after being 10.3B in the previous month.

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