EUR/HKD Forex Trading

EUR/HKD Forex Trading

EUR/HKD is a currency pair that experiences significant price swings. Interested? Start trading EUR/HKD with FXOpen today!
Open a forex trading account

EUR/HKD Live Charts

Use our EUR/HKD live chart to get the most up-to-date insight into the recent performance of this pair and other currency pairs used in forex trading. It can help you make informed decisions at home or on the go – no matter if you use the TickTrader desktop platform, web terminal, or mobile app. Our real-time chart includes the very latest price, historical data, and technical analysis tools to help guide your next trade.

Indicative pricing only

What Is EUR/HKD Trading?

In forex, EUR/HKD trading refers to the buying and selling of the euro against the Hong Kong dollar. In this pair, EUR is the base currency, and HKD is the quote currency.

The pair shows how many Hong Kong dollars you need to buy one euro or how many you would receive if you sold one euro. For example, if it is quoted as 9.50, it means you need 9.50 HKD to buy 1 EUR.

The FX EUR/HKD pair experiences significant price swings. FXOpen’s lightning-fast execution speeds help traders catch exciting movements.

EUR/HKD Historical Performance

Here's a brief overview of the historical context and developments of EUR/HKD:

The euro was introduced as an accounting currency on January 1, 1999, but physical banknotes and coins were not introduced until January 1, 2002. Before its introduction, the participating European countries used their national currencies.

Hong Kong has maintained a currency board system since 1983, where the Hong Kong dollar is pegged to the United States dollar within a narrow band. This peg has remained in place for several decades, providing stability to the HKD exchange rate.

Like all markets, EUR/HKD has experienced fluctuations over the years due to various factors, including economic conditions, interest rate differentials between the eurozone and Hong Kong, geopolitical events, and changes in market sentiment.

In March 2008, the price surged above 12. However, the global financial crisis of 2008 had a significant impact on markets worldwide. As a result, from March until November 2008, the market plunged by around 20%. In the following month, the single currency tried to recover. But the eurozone crisis of 2010-2012 didn’t allow it to reach previous highs. This period saw heightened volatility in EUR/HKD.

At the end of 2014, the market fell below the psychological level of 9.5, which led to a further decline below 8.5. In 2017, it recovered and even managed to return above 9.5 in March 2018. However, the Covid-19 pandemic negatively affected the euro, so the downtrend continued.

Major Factors That Affect the EUR/HKD Pair

Differences in interest rates between the eurozone and Hong Kong may significantly impact the exchange rate. Higher interest rates in the eurozone relative to Hong Kong tend to attract foreign capital and may lead to a stronger euro against the Hong Kong dollar.

Economic indicators in both the eurozone and Hong Kong influence the pair. Positive economic data in the eurozone or Hong Kong may lead to domestic currency appreciation. Developments in the global economy are also important factors for the market movement.

Political stability or instability in either the eurozone or Hong Kong affect investor confidence and price movements. Political events, elections, and government policies are significant factors.

The Hong Kong dollar's peg to the US dollar has a substantial impact on its value. Changes in the USD's value or concerns about the sustainability of the peg may indirectly affect EUR/HKD.

Open a forex trading account