What drives the euro?
The eurozone's shared currency is shaped by ECB policy, diverging economies, and energy dependence. Each row traces a chain of real events that pushed the euro higher or lower, month by month.
Euro1.17▲ 1.7% · 30d · 15 chains
APR 2APR 13APR 22MAY 1
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Sign upMAY 1 – MAY 31, 2026
MAY 1
Closed: +0.33%
🇪🇺 Interest Rate Hold
2026-05-01
EURO ▲
2026-05-01
The ECB held rates steady but signaled possible future hikes, boosting the euro.
↓
EURO ▲
APR 29
Closed: −0.05%
🇺🇸 Shipping Disruption
2026-04-29
🌍 Oil Price Rise
2026-04-29
The US naval blockade restricts oil shipments, reducing supply and pushing prices higher.
EURO ▼
2026-04-29
Rising oil prices increased safe-haven demand for the dollar, pushing the euro down.
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EURO ▼
🕌 Military Conflict
2026-04-27
🌍 Energy Price Rise
2026-04-27
The Middle East conflict disrupted energy supplies, causing global energy prices to rise.
🇺🇸 Interest Rate Rise Expectation
2026-04-29
Higher energy costs increase inflation risks, reducing room for Fed rate cuts.
EURO ▼
2026-04-29
Expectation of higher US rates strengthens the dollar, making the euro weaker.
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EURO ▼
APR 1 – APR 30, 2026
MAY 1
Closed: −0.28%
🇪🇺 Interest Rate Hold
2026-05-01
EURO ▲
2026-05-01
The ECB held rates steady but signaled possible future hikes, boosting the euro.
↓
EURO ▲
APR 29
Closed: −0.04%
🇺🇸 Shipping Disruption
2026-04-29
🌍 Oil Price Rise
2026-04-29
The US naval blockade restricts oil shipments, reducing supply and pushing prices higher.
EURO ▼
2026-04-29
Rising oil prices increased safe-haven demand for the dollar, pushing the euro down.
↓
EURO ▼
🕌 Military Conflict
2026-04-27
🌍 Energy Price Rise
2026-04-27
The Middle East conflict disrupted energy supplies, causing global energy prices to rise.
🇺🇸 Interest Rate Rise Expectation
2026-04-29
Higher energy costs increase inflation risks, reducing room for Fed rate cuts.
EURO ▼
2026-04-29
Expectation of higher US rates strengthens the dollar, making the euro weaker.
↓
EURO ▼
APR 24
Closed: −0.19%
🇮🇷 Peace Negotiation Progress
2026-04-24
EURO ▲
2026-04-24
Optimism about US-Iran peace talks boosted investor confidence, strengthening the euro.
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EURO ▲
🇺🇸 Military Strike
2026-04-20
🕌 Geopolitical Tension Rise
2026-04-20
The US Navy firing on an Iranian ship directly increased regional tensions.
EURO ▼
2026-04-24
Geopolitical tension in the Middle East reduces investor confidence, weakening the euro.
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EURO ▼
APR 22
Closed: −0.34%
🕌 Ceasefire Optimism
2026-04-22
EURO ▲
2026-04-22
Ceasefire extension reduces geopolitical risk, boosting investor confidence in the euro.
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EURO ▲
APR 21
Closed: +0.37%
🕌 Conflict Escalation
2026-04-21
EURO ▼
2026-04-21
Escalating Middle East tensions disrupt Europe's energy security, making the euro less attractive to investors.
↓
EURO ▼
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APR 14
Closed: +0.8%
🕌 War De-Escalation
2026-04-14
EURO ▲
2026-04-14
Investors bought euros on hopes that Middle East peace talks would reduce geopolitical risk.
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EURO ▲
APR 13
Closed: −0.14%
🇺🇸 Peace Negotiation Collapse
2026-04-13
EURO ▼
2026-04-13
Peace talks collapsed, increasing geopolitical risk and making the euro less attractive to investors.
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EURO ▼
APR 10
Closed: +0.27%
🇺🇦 Diplomatic Negotiation Progress
2026-04-10
EURO ▲
2026-04-10
Progress in Ukraine-Russia peace talks reduced geopolitical risk, making the euro more attractive to investors.
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EURO ▲
APR 8
Closed: +1.26%
🇺🇸 War De-Escalation
2026-04-08
EURO ▲
2026-04-08
A US-Iran ceasefire reduced geopolitical risk, making the euro more attractive to investors.
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EURO ▲
APR 2
Closed: +0.14%
🇺🇸 Military Strike
2026-04-02
EURO ▼
2026-04-02
Trump's aggressive war rhetoric increased uncertainty, causing investors to sell euros.
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EURO ▼
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APR 1
Closed: +1.0%
🇺🇸 Diplomatic Negotiation Progress
2026-04-01
EURO ▲
2026-04-01
Optimism about a potential US withdrawal from Iran reduced geopolitical risk, making the euro more attractive.
↓
EURO ▲
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