What moves the Euro
The Euro is set against the rest by one bank, the European Central Bank (ECB), and by the things that bank has to react to. Here is the rate it has set, what it is aiming at, the releases that move this currency and what is on the calendar this week.
Rate and calendar as the research last recorded them, Wed Sep 23, 2026, 9:14pm.
In short
- Central bank
- European Central Bank (ECB)
- Policy rate
- 2.50%
- Next meeting
- not published
- What the bank targets
- Price stability: inflation at 2% over the medium term
The three things that move it
- 1The gap between what the European Central Bank is doing and what the Federal Reserve is doing, more than either one alone.
- 2Growth in the euro area, and in Germany in particular, read through the purchasing manager surveys.
- 3Energy prices, because the bloc imports most of what it burns.
Driven by the gap between ECB and Fed policy, growth in the euro area and energy prices.
On the calendar this week
Nothing of the highest impact for the EUR this week. On weeks like that the currency drifts on the rate gap and the risk mood instead.
Times in Amsterdam. The whole week for all eight is on the calendar page.
The other seven
A currency is only strong or weak against another one, so the page next door matters as much as this one.
- USD US dollar
- JPY Japanese yen
- GBP British pound
- CHF Swiss franc
- AUD Australian dollar
- NZD New Zealand dollar
- CAD Canadian dollar
What the rate gap between two of them pays is on the rate differentials page, and how a pair is scored from two currencies is on the fundamental bias page.
Questions about the Euro
What moves the Euro?
What the European Central Bank (ECB) does and is expected to do, the releases that bank steers on, the mood of the wider market, and anything political big enough to be priced. A currency only moves against another one, so the same questions apply to the other side of the pair.
Which central bank sets the EUR rate, and what is it aiming at?
The European Central Bank (ECB). Its target: price stability: inflation at 2% over the medium term. A release matters most when it speaks to that target.
Where can I see the current EUR policy rate?
At the top of this page, next to the next scheduled meeting, and next to the other seven on our rate differentials page. It follows the research, so a decision shows up on the day it is made. All eight rates
Do you publish a EUR forecast?
No. We publish a reading of now: how the currency scores against the other seven today and why, rewritten when the news changes. Nobody here will tell you where a currency will be next month. How past calls turned out