Trade EUR/USD
Euro / US Dollar
The world's most liquid currency pair, accounting for roughly a quarter of all daily forex volume.
Price Chart
Specifications
Trade EUR/USD on weekends
EUR/USD is part of the StoicMarkets 24/7 group. A dedicated weekend instrument, EURUSD.24-7, keeps quoting after the standard Friday close, so you can open, manage and close positions on Saturdays and Sundays. Weekend liquidity is thinner, so spreads can be wider than in weekday sessions.
Explore weekend tradingAbout EUR/USD
EUR/USD measures how many US dollars are needed to buy one euro. It is the most actively traded currency pair in the world, representing roughly 24% of daily global forex turnover. The pair acts as a barometer for the relative economic health of the United States and the eurozone. When the Federal Reserve and European Central Bank diverge on monetary policy, EUR/USD tends to trend. Rate hikes in the US relative to Europe push the pair lower, while ECB tightening or Fed easing push it higher. Beyond central bank policy, EUR/USD reacts to employment data (particularly US Non-Farm Payrolls on the first Friday of each month), purchasing managers' indices (PMI) from both economies, and inflation readings like US CPI and eurozone HICP. Trade balance data, fiscal policy shifts, and political developments in major eurozone economies can also move the pair, though these tend to produce shorter-lived reactions than monetary policy signals. EUR/USD liquidity is deepest during the London-New York overlap (13:00-17:00 UTC), when both European and American institutions are active. Spreads widen after the New York close and during the Asian session, when participation from EUR and USD-focused institutions drops.
Key Price Drivers
- ECB and Fed interest rate decisions and forward guidance
- US Non-Farm Payrolls and eurozone employment data
- Inflation releases (US CPI, eurozone HICP)
- Risk sentiment and transatlantic capital flows
Peak Trading Hours
EUR/USD sees its highest volume and tightest spreads during the London and New York sessions.
London-New York overlap (13:00-17:00 UTC)
Spreads are narrowest during this window. Activity drops after the New York close.
Trading Considerations for EURUSD
Follow the Rate Differential
The interest rate gap between the Fed and ECB is the primary long-term driver. Track central bank meeting schedules, rate decisions, and forward guidance statements for directional signals.
Trade the Economic Calendar
US Non-Farm Payrolls (first Friday), CPI, and eurozone PMI releases are high-impact events. Spreads can widen and volatility can spike in the minutes around these releases.
Focus on the London-New York Overlap
The 13:00-17:00 UTC window concentrates the highest volume and tightest spreads. Most institutional EUR/USD flow occurs during this overlap.
Watch the DXY for Context
EUR/USD makes up roughly 57% of the US Dollar Index (DXY). A rising DXY almost always means a falling EUR/USD. Use DXY as a confirmation tool alongside your pair analysis.
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Frequently Asked Questions
What is EUR/USD?
EUR/USD is the forex pair that measures how many US dollars are needed to buy one euro. It is the most traded pair in the world.
Is EUR/USD good for beginners?
Yes. EUR/USD has the deepest liquidity of any pair, which keeps spreads tight. Price action is well-documented and more free analysis exists for EUR/USD than for any other pair, making it a natural starting point.
When is the best time to trade EUR/USD?
The London-New York overlap (13:00-17:00 UTC) offers the tightest spreads and strongest volume. Most major economic releases for both economies fall within or near this window.
What affects the EUR/USD price?
Interest rate decisions from the ECB and Fed, US employment data, eurozone PMI, and broad risk sentiment are the main drivers.
How does the ECB affect EUR/USD?
The ECB sets interest rates for the eurozone. When the ECB raises rates or signals hawkish policy, the euro tends to strengthen against the dollar. Dovish signals or rate cuts have the opposite effect. Press conferences after rate decisions often move the pair more than the decisions themselves.
What is the spread on EUR/USD?
EUR/USD typically has the tightest spread of any forex pair due to its deep liquidity. Spreads vary by account type and market conditions. Check the live spread displayed on the instrument page for current pricing.
Why does EUR/USD move during Non-Farm Payrolls?
Non-Farm Payrolls (NFP) is the US economy's most-watched employment report, released on the first Friday of each month. A stronger-than-expected number strengthens the dollar (EUR/USD falls), while a weaker number weakens it (EUR/USD rises). Volatility spikes are common in the minutes surrounding the release.
Can I trade EUR/USD on a 10X account?
Yes. EUR/USD is available on StoicMarkets 10X accounts with up to 1:30 leverage on the amplified buying power. Forex majors are among the most liquid instruments available on the 10X account type.
Start Trading EUR/USD
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CFDs are complex instruments and carry a high risk of rapid capital loss due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.