Currency chart
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USD – US dollar
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EUR – euro
USD/EUR currency chart: 1.00 USD = 0.9371 EUR
USD remains strong amid positive data releases
Daily Currency Update
The US Dollar Index (DXY) regained some ground this morning after yesterday’s minor dip. The US dollar headed back upward after surprises from the weekly Jobless Claims report and the Philadelphia Federal Reserve Manufacturing Survey. The Philadelphia Manufacturing Survey rose to 15.5 in April from 3.2 in March. This reading far surpassed expectations of 1.5. Weekly Jobless Claims data came in at 212,000 for the week ending on April 13. This was unchanged from the previous week’s level and below the forecasted 215,000 claims.Key Movers
The EUR/USD pair erased some earlier gains to trade near the 1.0657 mark this morning. This dip came after European Central Bank (ECB) policymaker Francois Villeroy de Galhau noted that the ECB should plan to cut rates in the May meeting. This increased outlook for a sooner rate cut has weighed on the euro and pulled the pair lower so far today.Like its European counterpart, GBP/USD also edged lower to trade around the 1.245 levels. Positive data out of the US and expectations that the Bank of England (BoE) may delay rate cuts until the fall months amid slower-than-expected inflation deceleration, has caused the pair to dip.
The USD/CAD pair pulled back after a strong start to the month. The pair traded around the 1.375 range this morning, down around 0.07%. The Loonie has weakened on high expectations that the Bank of Canada (BoC) will cut interest rates in their June meeting. Markets have priced in a 70% probability of this rate cut. In oil news, West Texas Intermediate (WTI) crude oil hovered near the $82.60 per barrel level this morning.
Expected Ranges
- EUR/USD: 1.0642 – 1.0655 ▼
- GBP/USD: 1.2427 – 1.2466 ▲
- AUD/USD: 0.6415 – 0.6455 ▼
- USD/CAD: 1.3743 – 1.3812 ▲
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USD Snapshot
- Currency name: United States dollar
- Currency code: USD
- Currency symbol: $, US$
- Central bank: Federal Reserve
- Central bank website: https://www.federalreserve.gov/
- Reserve currency: The United States dollar is considered a reserve currency.
- Safe haven: The United States dollar is considered a safe haven currency.
- Countries used in: United States
- Major unit: One United States dollar
- Minor unit: One cent
- Minor units (cents) per United States dollar: 100
- Note denominations: $1, $5, $10, $20, $50, $100
- Coin denominations: 1¢, 5¢, 10¢, 25¢, 50¢, $1
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, also referred to as American dollar, or informally known as the 'buck') is the official currency for the USA, Ecuador, El Salvador, British Virgin Islands, Turks and Caicos Islands, Caribbean Netherlands, Palau, Federated States of Micronesia, Marshall Islands, and East Timor.
EUR Snapshot
- Currency name: Euro
- Currency code: EUR
- Currency symbol: €,
- Central bank: European Central Bank (ECB)
- Central bank website: https://www.ecb.europa.eu/careers/vacancies/html/index.en.html
- Reserve currency: The Euro is considered a reserve currency.
- Safe haven: The Euro is not considered a safe haven currency.
- Countries used in: Germany, France, Spain, Italy, Portugal, Netherlands, Greece, Belgium, Austria, Ireland, Malta, Slovenia, Latvia, Cyprus, Luxembourg, Estonia, Slovakia, Lithuania, Andorra, Finland, Monaco, Montenegro, San Marino, Vatican City, Kosovo
- Major unit: One Euro
- Minor unit: One cent
- Minor units (cents) per Euro: 100
- Note denominations: €5, €10, €20, €50, €100
- Coin denominations: 1c, 2c, 5c, 10c, 20c, 50c, €1, €2
The euro (symbol: €; code: EUR) is the official currency of 19 of the 27 member states of the European Union.
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