EUR/USD stays in a consolidation phase near 1.0950 after posting marginal gains on Wednesday. The pair needs to stabilize above 1.0960 to extend its uptrend. US economic docket will feature Retail Sales and PPI data. The pair, however, lost its bullish momentum and retreated slightly below 1.0950 in the European morning on Thursday. Although the US Dollar failed to gather strength on Wednesday, recovering US Treasury bond yields helped the currency find support.
Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .
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