Currency Statistics 2015
The highs and lows of the most popular currency pairs in 2015 which will be remember as volatile, especially for the Euro. A year of financial uncertainty which could signify an upcoming crisis, or yet another hiccup in the long history of economy.
The main observation to be gathered from the global financial currency statistics is that the Euro is plummeting from the prior year in 2014. Aside from looking at the numbers, it is important to look at what underlying factors are influencing those numbers in order to assess why the Euro is facing the dilemmas that it is facing today.
One of the main factors that is causing the Euro to lose strength is the volatile situation in Greece, with unemployment rates of more than 24% over 2015. Greece is a pivotal example of the Euro’s downfall because it exemplifies how the Euro is affected by one nation within the European Union that is plummeting. What happens as a result is that the other nations are forced to pull their weight and that overall negatively impacts the Euro’s strength.
Even though Greece is a culprit to the Euro’s demise, it is not the sole force to blame. The immigration from middle east wars which leads to unease and uncertainty among Europeans is definitely a contributing factor, as well as the situation in countries like Spain and Cyprus, both with over 15% in unemployment and no salvation in the foreseeable future.
You can also blame The Euro and the global landscape as a whole suffers from banks making fiscal decisions that do not always practice the best implementation of financial policy. An example of this can be seen with the European Central Bank’s initiative to pump more Euros into the economy, which will cause devaluation due to the plethora of excess of supply in Euros.
The European Central Bank, however, is not the sole source to blame in this scenario. For example, The Federal Reserve Bank in the United States is guilty of boosting the potential of the United States Dollar, which negatively impacts the Euro’s strength. The Federal Reserve Bank has attempted to raise interest rates, which has proven successful in boosting the United States Dollar and negatively impacting the Euro.
These financial factors aside, it is no surprise that the Euro has seen a substantial weakness in the span of 2014 – 2015 given that the European Union overall has faced many economic, political, and social challenges that continue to have a great impact on the economic success of their corresponding economy, which ultimately contains the Euro.
At the early 2016, amid turbulence in the markets and commodity prices hitting 10 year lows, the GBP has seem to decline. This was caused by strengthening of the Dollar, as well as low manufacturing numbers, and most importantly in fear of a referendum about leaving the European Union.
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