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Posted March 12th, 2014 by Charles Purdy

Euro remains stable

There was not a great deal of movement in euro rates yesterday in what was generally a stable day in the currency markets. The single currency traded within a relatively narrow range against both sterling and the US dollar. German Trade Balance data, while slightly worse than expected, still detailed a larger surplus for January 2014 than in January 2013. This January, Germany exported goods to the value of €90.7bn, while importing €75.7bn.

Eurozone Industrial Production figures are due out today, and are expected to indicate a 0.6% increase in output for the eighteen-nation bloc. The Eurozone figures tend to have a more limited impact as data for the two largest economies – Germany and France – are released previously, so unless the figures deviate significantly from expectations, their effect on euro rates is likely to be limited.

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