ECB: European Central Bank, the central bank for the countries using the euro.

ECONOMIC INDICATOR: A government-issued statistic that indicates current economic growth and stability. Common indicators include employment rates, Gross Domestic Product (GDP), inflation, retail sales, etc.

END OF DAY ORDER (EOD): An order to buy or sell at a specified price that remains open until the end of the trading day, typically at 5pm/17:00 New York time.

EST/EDT: The time zone of New York City, which stands for United States Eastern Standard Time/Eastern Daylight time.

€STR: The Euro Short-Term Rate (€STR) is the interest rate benchmark for overnight borrowing costs throughout the euro area. It’s calculated and published by the European Central Bank (ECB) as a replacement for the Euro Overnight Index Average (EONIA) and the Euro Interbank Offered Rate (EURIBOR).

ESTX50: A name for the Euronext 50 index.

EURO: The currency of the Eurozone.

EUROPEAN MONETARY UNION (EMU): An umbrella name for the group of policies that aims to coordinate economic and fiscal policies across EU Member States.

EUROPEAN SESSION: 07:00 – 16:00 (London).

EUROZONE LABOR COST INDEX: Measures the annualized rate of inflation in the compensation and benefits paid to civilian workers and is seen as a primary driver of overall inflation.

EUROZONE ORGANIZATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (OECD) LEADING INDICATOR: A monthly index produced by the OECD. It measures overall economic health by combining ten leading indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices and interest rate spreads.

EX-DIVIDEND: A share bought in which the buyer forgoes the right to receive the next dividend and instead it is given to the seller.

EXPIRY DATE/PRICE: The precise date and time when an option will expire. The two most common option expiries are 10:00am ET (also referred to as 10:00 NY time or NY cut) and 3:00pm Tokyo time (also referred to as 15:00 Tokyo time or Tokyo cut). These time periods frequently see an increase in activity as option hedges unwind in the spot market.

EXPORTERS: Corporations who sell goods internationally, which in turn makes them sellers of foreign currency and buyers of their domestic currency. Frequently refers to major Japanese corporations such as Sony and Toyota, who will be natural sellers of USD/JPY, exchanging dollars received from commercial sales abroad.

EXTENDED: A market that is thought to have traveled too far, too fast.