Convert EUR to BGN
The Euro is affected by important economic data releasing from the Eurozone, including GDP, inflation, trade balance, retail sales, business confidence, PMI readings from the manufacturing and services sectors, and industrial production. Economic data from Germany - the Eurozone’s largest economy, also plays an important role in determining the value of the Euro.
The EUR experiences considerable volatility on the announcement of any changes to the monetary policy and interest rates by the European Central Bank (ECB). For instance, when the ECB hikes interest rates or tightens its monetary policy, the value of the EUR goes up against its major rivals, and vice versa.
The EUR sees maximum movement during the European trading session, between 07:00 AM and 04:00 PM GMT, as this is the time period when most of the market moving news from Europe releases.