Daily
4BIGEURORECDP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
12/6/2019 - 8/31/2022
Summary
The 'Daily' economic trend, identified by the Series ID 4BIGEURORECDP, tracks the daily value of the real effective exchange rate for the euro. This metric is crucial for monitoring the euro's competitiveness and assessing its impact on trade and the broader economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The real effective exchange rate (REER) is an economic indicator that measures the value of a currency against a basket of other currencies, adjusted for inflation. The 'Daily' trend provides a timely assessment of the euro's exchange rate dynamics, which is important for policymakers, investors, and analysts seeking to understand the Eurozone's economic conditions.
Methodology
The data is calculated by the European Central Bank using a trade-weighted geometric average of bilateral exchange rates.
Historical Context
Fluctuations in the euro's REER can influence the Eurozone's trade balance, inflation, and overall economic performance, making this trend a valuable tool for economic analysis and policy decisions.
Key Facts
- The euro's REER is calculated against a basket of 42 currencies.
- The 'Daily' trend is updated by the ECB on each business day.
- A rising REER indicates the euro is becoming more expensive relative to trading partners.
FAQs
Q: What does this economic trend measure?
A: The 'Daily' trend measures the real effective exchange rate (REER) of the euro, which tracks the value of the euro against a basket of other currencies, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: The euro's REER is a crucial indicator of the currency's competitiveness, with implications for the Eurozone's trade balance, inflation, and overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the European Central Bank using a trade-weighted geometric average of bilateral exchange rates.
Q: How is this trend used in economic policy?
A: Policymakers, investors, and analysts use the 'Daily' REER trend to monitor the euro's exchange rate dynamics and assess their impact on the Eurozone's economic conditions.
Q: Are there update delays or limitations?
A: The 'Daily' trend is updated by the ECB on each business day, providing timely data on the euro's real effective exchange rate.
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Citation
U.S. Federal Reserve, Daily (4BIGEURORECDP), retrieved from FRED.