Learn more about the mixed exchange rate market. Read our EUR/USD currency update for the latest news and move your money at the right time. Discover how to save money and benefit from all the advantages that TorFX, our trustworthy partner offers. From no-fees money transfers to fixed exchange rates up to two years. Mixed
If you’re an expat and need to move money between your home and adopted country, securing the right exchange rate for your currency transfers can make a big difference to how much you receive.
US Dollar Trades in Step with US Treasury Yields
Trade in the Euro to US Dollar exchange rate has been mixed over the past week, mostly as a result of fluctuating US Treasury yields and shifting market sentiment.
This saw the US Dollar falter through the second half of last week, with the publication of weaker-than-expected domestic inflation figures triggering a pullback in US Treasury yields. This downturn in the ‘Greenback’ was extended by the latest US jobless claims, which revealed a disappointing rise in new claims in the first week of February.
The US Dollar then made a short-lived attempt to rebound on Friday, before being undermined after US consumer sentiment fell more than forecast this month. The US Dollar continued to trend lower at the very start of this week’s session amid a prevailing risk-on mood, but has subsequently rallied hard, rising in step with a sharp rebound in Treasury yields.
Meanwhile, the Euro has mostly taken its cues from the US Dollar over the past week, with the negative correlation between the pairing helping the single currency avoid losses due to ongoing concerns over the EU’s vaccine rollout.
The EUR/USD exchange rates did manage to breakout to strike a new two-week high at the start of the current session as the latest Eurozone GDP estimate and German economic sentiment index printed above expectations, but these gains proved fleeting in the face of renewed USD strength.
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Eurozone PMIs in Focus
Looking ahead, a key catalyst in the mixed EUR/USD exchange rate through the latter half of this week will be the publication of the Eurozone’s latest PMI releases.
February’s preliminary figures are expected to report that economic activity in the Eurozone continued to slump as a result of the ongoing lockdowns that are in place throughout much of the bloc, but could a more modest contraction than forecast help to buoy the Euro?
In the meantime, the US Dollar’s upward momentum could be curbed by the publication of the minutes from the Federal Reserve’s most recent policy meeting. These minutes are likely to reinforce the Fed’s dovish bias and its commitment to do whatever it takes to support the US economy.
How to Save On Your Money Transfers When The Exchange Rate Market Is Mixed
International moves can involve various monetary decisions – from investment in foreign property, to international money transfers and moving savings. Due to the renewed lockdown measures, the exchange rate market is facing significant fluctuations. Securing an exchange rate will protect you from any unfavourable shifts in the currency market. Moreover, conducting currency transfers without charging fees means saving money which could be spent enjoying your new life abroad as an expat.
Start maximising your returns on your EUR/USD money transfer. Among others, remarkable advanteges are:
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What Does Mixed EUR/USD Exchange Rates Mean for Expats?
If the EU’s vaccination programme continues to disappoint, EUR exchange rates may suffer, as a result expats using Euros to purchase USD may get less for their money. However, a stronger US Dollar would be postive for any expats sending money back to Europe.
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