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Posted December 2nd, 2015 by Charles Purdy

Investors are cautious ahead of Thursday’s ECB meeting

The euro extended gains against the US dollar and sterling on Tuesday as it found a great deal of support with the release of improved economic reports from the Eurozone. This was limited however, as investors were acting cautiously ahead of the European Central Bank’s (ECB) upcoming policy meeting and announcement this Thursday.

This morning, the euro is likely to be affected by the initial Consumer Price Index figures; likely to tick up from last month from 0% up to 0.2%. Producer Price index will also be released, but this is expected to fall slightly from -0.3% to -0.4%. Other than this there will be little support for the euro after a positive Tuesday.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

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Posted November 26th, 2015 by Charles Purdy

Euro weakens to fresh lows

The euro managed to fall to fresh lows against the US dollar on Wednesday, while it also struggled throughout the day against sterling. It reached the lowest point in over seven months against the US dollar as strong US data was released, which then added to expectations that the US Federal Reserve will raise interest rates in December.

UK Chancellor George Osborne also spoke positively about the UK economy in his Autumn Statement, which in turn had a negative impact on the euro in relation to the UK currency. With no data or news out of the Eurozone or its members, there was nothing to support the euro, and so it suffered.

Given the Thanksgiving bank holiday in the US today, the euro could see some improvements from yesterday. However, the main data out today is the Eurozone money supply figure, which is forecast to remain at 4.9%, in line with last month’s reading. However, Friday should be a big day for the Eurozone, as it will be a data-heavy day.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted November 19th, 2015 by Charles Purdy

Euro is quiet

Wednesday was another day of little progress for the euro; it slightly improved its position against sterling and the US dollar in the morning, before these gains were then erased later on in the day. The recovery was limited due to the concerns that events in Europe over the weekend could affect the already fragile economic recovery.

This morning at 9am, the European Central Bank (ECB) net investment flow figure is released, along with the balance of payments data for the previous month; neither of these are expected to have much of an effect.

The majority of investors in Europe will be watching the continual developments surrounding last week’s events, and seeing how the French government will cope with this.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted November 12th, 2015 by Charles Purdy

Spotlight on Draghi today

The euro had a better day on Wednesday after a difficult series of days as it managed to edge higher against the US dollar, pulling back from close to seven-month lows as monetary policy expectations and now political upheaval in Portugal had put pressure on the single currency. The problem in Portugal arose after its Government collapsed after two weeks in power. The opposing left-wing party rejected its proposals in parliament as there was uproar over the proposed austerity measures. This has thrown the country into turmoil and contributed to recent euro weakness.

Today may be an important day for the euro. Inflation data in the form of a Consumer Price Index (CPI) from Germany has already been released earlier this morning. This was forecast to improve from -0.2% up to 0%.

Today’s industrial production data from the Eurozone will also be a key release this month. It is expected to edge higher from last month’s figure of -0.5%, up to -0.1%. However, the majority of investors will be listening closely to European Central Bank (ECB) President Mario Draghi, who is speaking today. Any indication on further loosening of monetary policy or timescales on when monetary policy could be altered is likely to have a negative effect on the single currency.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted November 5th, 2015 by Charles Purdy

Euro falls against both sterling and the US dollar thanks to strength elsewhere

The euro fell to the lowest levels in three months against the US dollar and sterling on Wednesday after a raft of upbeat US economic data began to expose the difference in monetary policy expectations between the Federal Reserve and the European Central Bank. The single currency also struggled against sterling as the Eurozone’s Purchasing Managers’ Index (PMI) data gave very little support to the euro.

Very early this morning German manufacturing orders are released; this is a very important figure to gauge the strength of the German economy and was forecast to improve from -1,.8 up to 1%. Slightly later on today, at 10am, we will see the release of retail sales data from the Eurozone; this is also expected to increase – from 0% to 0.2% – which could indicate a much welcome boost for the single currency. These two key releases may well help the euro push back against what has been a very disappointing week across all of its major trading peers.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted October 29th, 2015 by Charles Purdy

Euro hit by increase expectations of US interest rate rise

The day started off on a poor note for the euro but had almost no effect on the market when French consumer confidence fell slightly from 97 to 96, and German consumer confidence held steady, remaining at the same level as the previous month. Following this, it was a positive day for the euro, particularly after ECB member Hansson stated that ‘he sees no convincing reason for further policy action at the next meeting’. This pushed expectations for any further quantitative easing back until December. Then the US Federal Reserve held their press conference and the euro went into freefall against the US dollar and sterling as the likelihood of the US increasing interest rates pre-Christmas increased significantly.

After a couple of quiet days on the data front for the euro, today is likely to have an impact on the market. Germany unemployment data is forecast to remain at 6.4%. The consumer price index (CPI) from Germany is expected to increase slightly from -0.2 up to -0.1%. Investors will be watching this closely as the CPI is a measure of inflation.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted October 28th, 2015 by Charles Purdy

Pressure mounts on euro

Tuesday was a fairly quiet day for the euro as it was largely affected by news from elsewhere rather than any significant news from the Eurozone economy itself. The single currency strengthened slightly against sterling, but weakened against the US dollar.

This morning consumer confidence data from both France and Germany is released. This was forecast to drop in Germany from 9.6 to 9.4 whilst in France it is expected to remain at 9.7. Any variance on this could see an impact on the euro. With investors concerned about the quantitative easing increase likely to be announced in December, any negative sentiments arising from poor data could help to increase pressure on the euro as it increases the likelihood of increased quantitative easing.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted October 22nd, 2015 by Charles Purdy

Investors await news from today’s ECB Policy meeting

The euro held steady against sterling and the US dollar on Wednesday as it remained data-less and as we await the outcome of the latest monthly policy meeting and the subsequent announcement from the European Central Bank (ECB) later today. The single currency was steady amid speculation that the ECB could flag plans to enlarge its stimulus program. Interest rates are expected to remain at 0.05% and it would be a huge shock to the markets if otherwise.

This morning business sentiment data from France is released and forecast to fall slightly from 104 to 103. Any figure above 100 is deemed acceptable. At 3pm Consumer confidence data is forecast to fall from -7.1, to -7.35.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted October 15th, 2015 by Charles Purdy

Time to draw breath for the euro?

In contrast to considerable data activity in the UK, US and further afield, the Eurozone had a relatively quiet time on Wednesday, with only French Consumer Inflation data posting a negative figure, as expected. Industrial production data in the European Union also declined further, a figure that has struggled in the last six months.

The euro did experience movement with its major currency pairings as a result of sterling strength and US dollar weakness. Strong labour data for the UK meant that sterling recovered a significant proportion, if not all, of Tuesdays losses against the euro, while the US dollar weakened just over half a cent against the euro.

With minimal data expected today, we could see further euro movements on the back of both sterling and US dollar releases.

If you are looking to buy or sell euros, keep a close eye on the markets. We suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted October 8th, 2015 by Charles Purdy

Could the global growth slowdown hit the Eurozone?

The euro fell on Wednesday against both the US dollar and sterling, thanks to the release of data that highlighted a fall for German industrial production at the fastest rate we have seen for a year. The German industrial output fell 1.2% from last month’s figure, despite the forecast of a small 0.2% increase. This was the steepest drop since August 2014, and added to concerns that a slowdown in global growth is spreading to the largest economy in Europe; this has become a real concern for the Eurozone as whole.

Trade balance for Germany was released this morning, but other than that we should expect a quiet day for the euro as it is likely to be affected by the Monetary Policy Committee (MPC) minutes from the UK.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

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