Forex
EUR/USD
Euro versus US dollar — the most traded currency pair in the world.
EUR/USD chart
- Spot FX
- Intraday · may be delayed
- FX:EURUSD
Spot EUR/USD quoted by FXCM. Spot FX has no single official price, so quotes differ slightly between providers; broker tick volume is not shown.
About the EUR/USD
EUR/USD shows how many US dollars one euro buys. It is the most traded currency pair according to the Bank for International Settlements' Triennial Survey, and typically has some of the tightest spreads in FX.
The pair is driven by the relative outlook for the Federal Reserve and the European Central Bank, growth differences between the US and the euro area, and global risk sentiment. Because the euro is about 58% of the DXY basket, EUR/USD and the dollar index usually move as mirror images.
Liquidity is deepest during the London session and especially the London–New York overlap, when both European and US participants are active.
What moves EUR/USD
Common drivers. None of them determine price on their own.
- Fed vs. ECB
- Shifts in expected policy rates on either side of the Atlantic, and the resulting yield differential, are a primary driver.
- US data
- CPI, payrolls and FOMC decisions move the dollar side. Surprises relative to forecasts matter more than the level.
- Euro-area data
- Flash HICP inflation, PMIs, German data and ECB meetings move the euro side.
- Risk sentiment and energy
- The euro area is a large energy importer; energy price shocks and global risk-off episodes have often weighed on the euro.
EUR/USD trading hours
Regular schedules in US Eastern time unless noted. Holidays and early closes are not shown.
| Venue | Hours | Note |
|---|---|---|
| Spot FX | Sun 5:00 p.m. – Fri 5:00 p.m. ET (24 hours on weekdays) | — |
| Most active window | London–New York overlap, approx. 8:00 a.m. – 12:00 p.m. ET | — |
| CME euro futures | Sun–Fri 6:00 p.m. – 5:00 p.m. ET (daily 5:00–6:00 p.m. ET break) | — |
Economic events that matter for EUR/USD
Why each release can move this market. Reactions depend on the surprise versus expectations and on the backdrop.
| Event | Why it can matter for EUR/USD |
|---|---|
| NFP Next: | US payroll surprises can change expectations for Federal Reserve policy and move Treasury yields and the dollar, making NFP one of the most closely watched US releases for EUR/USD. |
| FOMC Next: | EUR/USD trades largely on the gap between expected Fed and ECB policy; a Fed decision or dot plot that shifts US rate expectations changes that gap directly. |
| CPI Next: | US inflation surprises move Treasury yields relative to German Bund yields, a spread that has historically been one of the main drivers of EUR/USD. |
| ISM Services Next: | With the euro-area session still open at 10:00 a.m. ET, a surprise in US services activity or prices paid can move the dollar side of the pair during overlapping London–New York liquidity. |
Also scheduled: ECB meetings and euro-area inflation data matter as much for EUR/USD as US releases. They are not covered on this site.
EUR/USD FAQ
What are EUR/USD trading hours?
EUR/USD trades 24 hours a day from Sunday 5:00 p.m. ET to Friday 5:00 p.m. ET. Volume is usually highest during the London session and the London–New York overlap (roughly 8:00 a.m. to 12:00 p.m. ET).
How does CPI affect EUR/USD?
US CPI changes expectations for Fed policy. A hotter-than-expected print often supports the dollar (lower EUR/USD) if it raises expected US rates, but the move depends on how the details compare with forecasts and on what is already priced.
What is a pip in EUR/USD?
A pip is 0.0001. On a standard lot of 100,000 euros, one pip is worth $10.