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(13 May 2025, 15:07)

Euro stable after heavy slide against US dollar in last session

Euro is trying to stabilize against the US dollar today after a sharp tumble in last session. The single currency lost around 1.50% on the day to test one-month low under 1.1100 as the US dollar was boosted by news of a US-China trade deal that drastically reduces the massive tariffs on each other's goods. A sharp surge was seen in US equity indices with the, the Nasdaq and the S&P 500 reached their best closing levels in over two months. EUR/USD pair was under stress amid these developments and fragile economic undertone in Euro area also pulled the currency down. Some calm moves are being seen in the pair today with EUR/USD pair currently quoting at 1.1133, up 0.18% on the day. On the NSE, EUR/INR futures are quoting at 95.05, down 1.30% on the day. It tested lows around 94.30 in early moves before rising.
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