The EUR/USD currency pair represents the number of US Dollars which can be bought with one Euro, and is the most commonly traded currency pair in the world.
EUR/USD Market Influences
The US Dollar is always treated as a reserve currency internationally; other countries keep a healthy supply of Dollars on hand as a precaution against any future adversity. This always propels the demand for the Dollar as all of the major global commodities like oil and gold are denominated in Dollars. Any country buying such commodities has to exchange their own currency for Dollars in the first place to make a purchase; this always increases the demand for the Dollar.