EUR
USD
What EUR/USD is
EUR/USD, often written as EURUSD or called "euro dollar", is the exchange rate of the euro against the US dollar. The euro is the base currency and the US dollar is the quote currency. The price shows how many US dollars one euro costs.
- When the price rises, the euro is getting stronger against the dollar.
- When the price falls, the dollar is getting stronger against the euro.
EUR/USD is a major pair, meaning it includes the US dollar and is one of the most traded pairs. For how majors compare with minors and exotics, see Majors, minors, exotics.
Trading EUR/USD at a broker like Exness usually means trading a CFD (contract for difference). With a CFD you trade the price movement and do not own euros or dollars. CFDs are traded with leverage, and leveraged forex trading can lose money fast, including the full amount in the account.
How to read the quote
Every quote has two prices:
- Bid: the price at which you can sell.
- Ask: the price at which you can buy.
The difference between them is the spread. It is a trading cost you pay when you open a position.
A pip is the standard unit of price change for a currency pair. Most platforms show EUR/USD with one extra digit after the pip. This smaller step is called a pipette or fractional pip. When you read a spread such as "from" a certain number of pips, it is measured in pips, not pipettes.
Pip value is how much money a one-pip move is worth for a given position size. For EUR/USD, pip value is in US dollars because the dollar is the quote currency. If your account is in another currency, the value is converted. Use the calculator below to see the pip value for your lot size in USD and in your account currency.
Fill in the empty fields to see the result.
What tends to move EUR/USD
The pair moves on the difference between the two economies and their interest rate expectations. This is the basis of any EUR/USD analysis. The factors below are general market knowledge, not forecasts.
Euro side
- ECB policy: decisions on interest rates by the European Central Bank, the wording of its statements and the press conference.
- Euro-area inflation: price data that shapes expectations for ECB rates.
- PMIs: Purchasing Managers' Index surveys of business activity in manufacturing and services.
- German data: Germany is the largest euro-area economy, so its business sentiment, industrial and inflation reports get attention.
- Energy prices: the euro area imports much of its energy, so gas and oil prices affect the trade balance and growth outlook.
US dollar side
- Fed policy and the dot plot: Federal Reserve rate decisions and the dot plot, a chart of policymakers' own rate projections.
- US jobs (NFP): the monthly Non-Farm Payrolls report on employment.
- US CPI: consumer price inflation.
- Treasury yields: returns on US government bonds. Changes in the yield gap between US and European bonds often show up in EUR/USD.
- Global risk appetite: in times of stress, traders often move into the dollar, and the reverse can happen when markets are calm.
An economic calendar lists these releases. Exness provides one on the website and in the Exness Trade app. For more on reading economic data, see Fundamental analysis.
Liquidity by session and spread behaviour
Liquidity is the volume of buying and selling available at any moment. More liquidity usually means tighter spreads and smoother fills.
| Session | Typical EUR/USD activity |
|---|---|
| Asian | Quieter, smaller ranges, spreads can be wider than in Europe |
| European (London) | Liquidity rises as euro-area markets open |
| London–New York overlap | Usually the most active period for the pair |
| Late US / daily rollover | Liquidity thins, spreads can widen |
Spreads also widen around major news releases, at weekend opens and on bank holidays. Prices can jump past your stop-loss level in fast markets, which is called slippage.
At Exness, orders opened from 15 minutes before to 90 seconds after high-impact news are subject to higher margin requirements (HMR). For forex during HMR, leverage is 1:200 (0.5%).
EUR/USD conditions at Exness
The figures below are account-level conditions from Exness pages as listed when this page was prepared. They are not EUR/USD-specific spreads. Check the current specification for EURUSD in the platform before trading.
| Account | Spread | Commission |
|---|---|---|
| Standard | From 0.2 pips | No commission |
| Standard Cent | From 0.3 pips | No commission |
| Pro | From 0.1 pips | No commission |
| Raw Spread | From 0 pips | Up to 3.50 USD each side per lot |
| Zero | From 0 pips | From 0.05 USD each side per lot |
Other conditions:
- Minimum lot size: 0.01 lot. Maximum lot size: 200 lots (7:00–20:59 GMT+0), 60 lots (21:00–6:59 GMT+0).
- Unlimited leverage is available for eligible instruments, including Forex majors and minors, DXY, USDCNH, HKDJPY, USDHKD, USDTHB; all commodities except XAUUSD247; BTCUSD, BTCUSDT, ETHUSD, ETHBTC. It applies only on real accounts: equity below 5,000 USD and at least 10 closed orders totalling 5 lots or more across real accounts.
- Swap is the fee or credit for holding a position overnight. Exness assigns swap-free status automatically to clients registered from these countries: Algeria, Azerbaijan, Bahrain, Bangladesh, Brunei, Chad, Comoros, Côte d'Ivoire, Djibouti, Egypt, Indonesia, Iraq, Jordan, Kazakhstan, Kyrgyzstan, Kuwait, Lebanon, Libya, Maldives, Mauritania, Morocco, Niger, Oman, Pakistan, Qatar, Saudi Arabia, Senegal, Tajikistan, Tunisia, Turkiye, Turkmenistan, United Arab Emirates, Uzbekistan. See Swap fees for details.
Contract size, digits, swap values and trading hours for EURUSD are shown in the symbol specification in MetaTrader or the Exness terminal. Use the calculator below to see the margin needed for your position size and leverage.
Fill in the empty fields to see the result.
Higher leverage lowers the margin required but does not lower the risk. A small price move can still cause a large loss. See Risk management.
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Legal note for Pakistan
On offshore products, per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947. Also, per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)). Read Law and regulators before opening an account with any offshore broker.
Frequent questions
What does the EUR/USD price mean?
It shows how many US dollars one euro costs. A higher price means a stronger euro against the dollar.
How much is one pip on EUR/USD?
It depends on your lot size and account currency. Use the pip calculator on this page to see the exact value.
When is EUR/USD most active?
Usually during the London–New York overlap. The Asian session and the late US hours tend to be quieter, with wider spreads.
Which reports move EUR/USD the most?
Commonly ECB and Fed decisions, US jobs (NFP) and CPI, euro-area inflation and PMIs, and German data. Reaction size varies each time.
What is the EURUSD spread at Exness?
Exness lists spreads by account type, for example the Standard account from 0.2 pips. The live spread changes during the day, so check it in the platform.
Is trading EUR/USD safe for beginners?
No leveraged trading is safe. CFD trading can lose money fast. Practising on a demo account first helps you learn the platform without risking real money.
