Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted September 30th, 2015 by Charles Purdy

Will CPI data help the euro rebound today?

Yesterday was a day of contrasting data for the Eurozone which saw the euro hold itself below the 1.35 level against sterling. Economic sentiment hit a four year high which suggests that European businesses have become more upbeat and that the quantitative easing programme is working whereas inflation in Germany fell to 0% this month, which should add pressure on the European Central Bank (ECB) to ramp up its quantitative easing programme. The ECB targets inflation of close to under 2.0%, which is a long way off, given current levels. German Consumer Price Index (CPI) data also fell to 0.2% from last month’s figure, compared to expectations for a decline of 0.1%.

Today we expect two pieces of key data from Germany. Retail sales data, is released at 7.30am this morning, and is forecast to fall to 0.2%, in comparison to 1.4% last month. Employment data and CPI data from the Eurozone is out at 10am – as the CPI is an indicator of inflation, results could have a significant effect on euro markets.

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

Comments are closed.

Posted September 29th, 2015 by Charles Purdy

Will the euro sustain yesterday’s good graces?

The euro had a good start to the day against sterling and the US dollar on Monday, as overall sentiment for a US rate hike in the upcoming months became more unlikely. It was a very quiet day for the single currency on the data front. Italian business confidence data was released, coming out much better than expected, at 104.2 in comparison to the forecasted figure of 102.7. The euro finally breached the key resistance level against sterling of 1.35, a key level it hadn’t broken since May this year.

Today is an important day for the single currency, with Business and Consumer confidence data due from the Eurozone. Given the strength of today’s Italian figure, it is hoped that the Eurozone data will also be improved; whether the former was sufficient to affect the latter remains to be seen. Germany also releases its preliminary Consumer Price Index (CPI) data; an indicator of inflation, it is forecast to fall to a negative figure of -0.1%, down from 0%. Falling below the zero percent line is a physiological level and is likely to unsettle the single currency yet again.

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

Posted September 24th, 2015 by Charles Purdy

The euro strengthens thanks to Draghi’s announcement

The euro moved higher against the US dollar and sterling on Wednesday after European Central Bank (ECB) President Mario Draghi said it was too early to decide whether or not the central bank will add to its current stimulus program. Other than this we had Purchasing Managers’ Index (PMI) data from Europe which fell from 53.3 to 52.5 in September, while the services PMI ticked down to 54.3 from 54.9 but this data really did take a back seat though given Draghi was speaking in the afternoon.

Very early this morning consumer confidence data from Germany was released, and this was forecast to improve slightly from 9.8 to 9.9. At 9 am, there is more news from Germany with the Institute for Economic Research (IFO) business sentiment data which is forecast to fall from 102.2 to 101.5.

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

Posted September 17th, 2015 by Charles Purdy

Euro performance hinging on US Federal Reserve meeting?

The euro weakened on Wednesday against the majority of currencies after data showing that euro area inflation was revised lower for August added to fears that the European Central Bank (ECB) may have to scale up its quantitative easing programme in the coming months on top of the €60 billion-a-month programme that is already in place. ECB Vice President Vitor Constancio was reported as saying that the bank is still looking at the possibility to purchase more assets as its quantitative easing has been relatively small in comparison to that of other major economies.

Today there is little out on the data side of things, so the majority of markets will be focusing on the Federal Reserve meeting in the US. This could have a significant effect on the euro as the euro and the US dollar are the two most-traded currencies on the planet.

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

Posted August 27th, 2015 by Charles Purdy

Mixed bag for the euro

The euro had a mixed day against sterling, and struggled against the US dollar. The euro ended the day down by more than 1% on Wednesday after a senior European Central Bank policymaker warned that the risks of their short-term high inflation target has made it more likely that more quantitative easing may be actioned. Earlier this week the single currency received an additional boost as fears over the global economic outlook scaled back expectations for a US rate hike – and this benefited the euro.

Early this morning French consumer confidence data was released, and this was forecast to weaken from 102 to 101. Other than this, the focus will remain on the Chinese economy struggles.

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

Posted August 20th, 2015 by Charles Purdy

Euro on the rise thanks to data from elsewhere

For the third straight day, little happened for the euro on Wednesday – although it was able to strengthen slightly against both sterling and the US dollar thanks to positive news from the German parliament vote for a third Greek bailout.

One the world’s major ratings agency, Fitch, also upgraded its credit rating of Greece to CCC, following the completion of last week’s bailout. The gains against the US dollar was also down to factors elsewhere, as the US markets became nervous around the FED meeting minutes last night.

Earlier this morning, Producer Price Index data from Germany was released; this was forecast to remain at the same as last month’s figure of -0.1%. Other than this, we will have to wait until tomorrow for further data.

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

Posted July 30th, 2015 by Charles Purdy

Euro falls again as investors anticipate US rate discussion

Wednesday was another disappointing day for the euro as it struggled against both sterling and the US dollar – possibly driven by the lack of news or data from the Eurozone and the eagerly-awaited US interest rate discussions. The currency’s weakness against the dollar was unexpected, especially due to the news that US pending home sales data unexpectedly fell in June, but the sudden strength of the dollar was clearly a response from investors ahead of last night’s Federal Reserve meeting.

This morning we have Consumer Price Index (CPI) and Gross Domestic Product (GDP) data from Spain – as well as German unemployment data, forecast to remain the same as last month’s figure of 6.4%. At 10am, employment data from the whole of the Eurozone will be released, and this is forecast to remain at 11.1%. CPI data from Germany is the final major data release due today, and is expected to show an improvement on last month’s -0.1% to 0.3%. This could be a big day for the euro – the biggest day in terms of data releases for the last couple of weeks.

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

Posted July 20th, 2015 by Charles Purdy

Euro continues its negative run

Friday was a disastrous day for the euro, as it struggled against the majority of other currencies. The single currency had found some support earlier in the week, as Eurozone ministers agreed to give Greece a €7 billion bridging loan from a European Union fund so as to keep its finances afloat until the bailout is finally approved.

This morning, the Producer Price Index from Germany is released, a slight fall is predicted. Also we have the Eurozone Current account statement figures which are expected to confirm that overall the Eurozone is on firm footing, it’s just certain southern states which are a problem. On Thursday we expect Consumer Confidence Data from Europe – and this is likely to show a good indication of the general sentiment across the Eurozone. Until the Greek deal is finalised, we expect that the focus will remain on whether the country can come to a long-term deal with its creditors, and get an agreement in place soon. On Friday we have a swathe of Flash Manufacturing Purchasing Manager Indices for July for both the Eurozone and for individual countries. Steady or slight improvements are expected/hoped for with all in positive territory.

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

Posted July 16th, 2015 by Charles Purdy

Euro struggles even as Greece’s parliament agrees austerity measures

The euro had a difficult day on Wednesday, thanks to very little data or news being released and investors waiting to see if the Greek parliament would push through the harsh austerity measures demanded by the Eurozone creditors. This was not helped by news from the International Monetary Fund (IMF) that suggested that Greece would need far more debt relief than the current levels.

Late last night, the required four pieces of legislation were duly passed by the Greek parliament amidst much rancour both in and outside the parliament building. The next step is for a number of Eurozone countries to put the matter before their own parliaments for ratification. If successful we should be able to put the Greek debt crisis to one side for a period. How long that period will be is open to debate given the IMF’s comments.

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

Posted July 9th, 2015 by Charles Purdy

Is the euro defying gravity?

The euro enjoyed a good day against sterling based on the hope rather than perhaps the belief that the latest negotiations between Greece and its creditors might lead to the all elusive deal to keep the nation from defaulting and leaving the Eurozone. The Greek government is to present a formal application by end of play today for a new package from the European Stability Mechanism, the name of the Eurozone bailout fund.

Today we have little data out from the whole of Europe apart from German trade exports and imports data – other than that, the focus will be on whether Greece and its creditors can reach a deal.

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

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus