EUR/USD: price today and what moves it
EUR/USD shows how many US dollars one euro costs. It is the world's most traded currency pair, with tight spreads and deep liquidity, and it compares the two largest economic areas and their central banks: the ECB and the Federal Reserve.
EUR/USD · EURUSD
1.12387
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What is EUR/USD?
EUR/USD shows how many US dollars one euro costs. It is the world's most traded currency pair, with tight spreads and deep liquidity, and it compares the two largest economic areas and their central banks: the ECB and the Federal Reserve.
What moves the price
ECB–Fed rate differential
If the Fed is expected to cut earlier or more than the ECB, the euro usually strengthens against the dollar, and vice versa.
Inflation
US CPI and eurozone HICP change expectations for each central bank.
Growth and PMI
Activity surprises (PMI, GDP) in Germany and the eurozone versus the US move the pair.
Risk appetite
During global stress the dollar tends to act as a safe haven.
Check earnings and news against their publication dates, the economic calendar, liquidity and contract specifications. These factors explain risks; they do not alone determine a buy or sell decision.
When it moves the most
Forex opens on Sunday at 5:00 p.m. and closes on Friday at 5:00 p.m. New York time. Liquidity concentrates in the London session and especially in its overlap with New York (roughly 8:00 a.m. to 12:00 p.m. New York time).
Data and events to watch
- ECB and Federal Reserve decisions
- US CPI and eurozone HICP
- Nonfarm payrolls (NFP)
- Eurozone and German PMIs
- German Ifo index
Before deciding
Define entry, invalidation and maximum loss. Size the position using tick value in your account currency. Include costs and check the quote before transferring levels from another provider.
Learn more
- EUR/USD today: quote and context for Thursday, October 15
- Eurozone inflation rises to 3.8% in September: will the ECB hike?
- London session strategy: a step-by-step breakout guide
- Forex market hours: sessions in New York, London and Latin America
- AI for forex: how to use artificial intelligence to trade currencies
- Spread, swap and slippage in forex: the costs you don't see
Frequently asked questions
How much is a pip worth in EUR/USD?
A pip is 0.0001. With 1 standard lot (100,000 euros) each pip is worth $10; with 0.10 lots, $1 per pip.
When does EUR/USD move the most?
During the London session and its overlap with New York (roughly 8:00 a.m. to 12:00 p.m. New York time), and after data such as US CPI or payrolls.
Why does EUR/USD fall when the dollar rises?
Because the pair measures the euro's price in dollars: if the dollar strengthens, fewer dollars are needed to buy one euro and the quote falls.