{"id":85429,"date":"2020-01-23T04:00:24","date_gmt":"2020-01-23T09:00:24","guid":{"rendered":"https:\/\/currencylive.com\/?p=85429"},"modified":"2020-01-23T04:00:24","modified_gmt":"2020-01-23T09:00:24","slug":"102150-eur-usd-ecb-coronavirus-fears-drive-trading","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102150-eur-usd-ecb-coronavirus-fears-drive-trading\/","title":{"rendered":"EUR\/USD: ECB & Coronavirus Fears Drive Trading"},"content":{"rendered":"

The euro is holding steady versus the US dollar in early trade on Thursday. The euro US dollar exchange rate is trading flat at US$1.1089 at the time of writing, extending gains from the previous session. On Wednesday, despite a weak start, the euro gained ground across the US session closing 0.1% higher.<\/p>\n

The euro advanced in the previous session despite growing concerns that President Trump could escalate trade tensions between the US and the European Union. Speaking from Davos at the World Economic forum, President Trump threatened to apply high tariffs to cars coming from the EU.<\/p>\n

Tariff threats from Trump towards the EU are nothing new. However, worries are increasing that with the first phase US \u2013 China trade deal signed, Trump could switch his focus squarely on EU trade relations. He insisted that he wants a trade deal agreed before the presidential elections in November. Any signs of tension elevating between the two sides could drag the euro sharply lower. The slowdown in the eurozone economy is bottoming out, however the economy is not strong enough to weather a trade dispute with US.<\/p>\n

Today euro investors will look straight to Frankfurt and the European Central Bank meeting. No change to monetary policy is anticipated. As Christine Lagarde\u2019s second meeting at the helm of the central bank, market participants and analysts will be learning to read the ECB President. The greatest focus is expected to be on the start of the strategic review. Investors will be listening for comments about its scope and duration.<\/p>\n

Trump, Impeachment & Home Sales <\/strong><\/h3>\n

The dollar traded broadly flat versus its peers on Wednesday as investors watched developments surrounding Trump\u2019s impeachment trial and took on-board upbeat US existing home sales data.<\/p>\n

US existing homes sales smashed analysts\u2019 expectations, jumping 3.6% month on month to the highest level in almost two years. Low mortgage interest rates have helped the US housing market and construction sector come back to life. The data is the latest in a growing mound of evidence that supports the view that the US economy is on a solid footing.<\/p>\n

Today concerns over the outbreak and spread of coronavirus is weighing on risk sentiment after Chinese authorities shut down access to Wuhan, the epicentre of the virus. Financial stock markets across Asia declined overnight as risk appetite took a hit. The safe haven dollar could push higher.<\/p>\n

 <\/p>\n\n\n\n\n
What do these figures mean?<\/strong><\/td>\n<\/tr>\n
When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the current equivalent. As the market moves, the amount will vary from minute to minute.<\/p>\n

For example, it could be written:<\/p>\n

1 EUR = 1.12829 USD<\/em><\/p>\n

Here, \u20ac1 is equivalent to approximately $1.13. This specifically measures the euro\u2019s worth against the dollar. If the U.S. dollar amount increases in this pairing, it\u2019s positive for the euro.<\/p>\n

Or, if you were looking at it the other way around:<\/p>\n

1 USD = 0.88789 EUR<\/em><\/p>\n

In this example, $1 is equivalent to approximately \u20ac0.89. This measures the U.S. dollar\u2019s worth versus the euro. If the euro number gets larger, it\u2019s good news for the dollar.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\n
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The euro is holding steady versus the US dollar in early trade on Thursday. The euro US dollar exchange rate is trading flat at US$1.1089 at the time of writing, extending gains from the previous session. On Wednesday, despite a weak start, the euro gained ground across the US session closing 0.1% higher. The euro […]<\/p>\n","protected":false},"author":163946597,"featured_media":4399,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[2149,1413,1395,1393,1870,1690,1415,1400,1397,1398],"class_list":{"0":"post-85429","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-davos","10":"tag-ecb","11":"tag-eur","12":"tag-euro","13":"tag-exchange-rates","14":"tag-forex","15":"tag-trade-dispute","16":"tag-trump","17":"tag-us-dollar","18":"tag-usd"},"acf":[],"yoast_head":"\nEUR\/USD: ECB & Coronavirus Fears Drive Trading - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102150-eur-usd-ecb-coronavirus-fears-drive-trading\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102150-eur-usd-ecb-coronavirus-fears-drive-trading\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102150-eur-usd-ecb-coronavirus-fears-drive-trading\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"EUR\\\/USD: ECB & Coronavirus Fears Drive Trading\",\"datePublished\":\"2020-01-23T09:00:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102150-eur-usd-ecb-coronavirus-fears-drive-trading\\\/\"},\"wordCount\":770,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102150-eur-usd-ecb-coronavirus-fears-drive-trading\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100387-gbp-eur-uk-chancellor-statement.jpg\",\"keywords\":[\"Davos\",\"ecb\",\"eur\",\"euro\",\"exchange rates\",\"forex\",\"trade dispute\",\"trump\",\"us dollar\",\"usd\"],\"articleSection\":[\"EUR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102150-eur-usd-ecb-coronavirus-fears-drive-trading\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102150-eur-usd-ecb-coronavirus-fears-drive-trading\\\/\",\"name\":\"EUR\\\/USD: ECB & Coronavirus Fears Drive Trading - 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