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Posted February 26th, 2015 by Charles Purdy

Will todays flow of German data boost the euro?

The euro remained largely unchanged on Wednesday against other major currencies. This was largely due to the on-going concerns over Greece’s bailout extension, which is keeping investors cautious. This morning however, we see a raft of data out of Germany – this includes consumer confidence, retails sales and unemployment data. This could be a boost for a currency that desperately needs one.

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 January 12th, 2015 by Charles Purdy

Will the ECB boost the Eurozone economy this week?

Fortunes were mixed for the euro at the end of last week, seeing no single, direct shift in the currency from factors within the Eurozone. The only data it had to go on was industrial production, which showed an unexpected decline in both France and Germany. With this, the euro fell against sterling, but rose over the day against a weaker US dollar. However, the continued negativity meant that the multi-nation currency was still set for a weekly decline for the fourth week in a row, the longest run since September of last year.

This week has a few releases of note that could impact on the currency’s performance, starting with a monthly economic report from Germany. Tomorrow sees the more significant data start with the German ZEW Economic statement, as the euro looks to its largest contributor for support.

Mid-week is somewhat quieter with just the Spanish unemployment rate due, ahead of a much busier Thursday. This is set to be the most significant day, as the European Central Bank (ECB) will release their monthly interest rate decision. While this is unlikely to show much change in itself, the accompanying press conference is always closely scrutinised for any clues as to its outlook for the area. This is particularly relevant thanks to the speculation over quantitative easing and the political uncertainty in Greece. Has Germany finally acquiesced and agreed that the ECB should re-energise the Eurozone economy through a programme of extra funding? If they have this will bring further pressure on the euro.

Friday then rounds off the week with a number of Purchasing Managers’ Index (PMI) figures, with both manufacturing and services due from France and Germany, as well as the figures for the Eurozone as a whole.

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

 

Posted January 6th, 2015 by Charles Purdy

US Dollar continues its strong start to 2015

The US dollar had a mostly positive day yesterday, enjoying gains in most key areas. Following weakness from the Eurozone, the dollar touched its best price in nearly nine years against the multi-nation currency, and since August 2013 against sterling. There was no data of note from stateside to influence the markets further, with just some words from a member of the US Federal Reserve for investors to ponder.

With speculation rife over when the US will announce its interest rate rises, any clues as to the timeline for this will be key. The central bank stated that it does not rule out tightening later in 2015, and reiterated that any decisions would be data led.

Today holds just the one major piece of data in the shape of the non-manufacturing Purchasing Managers’ Index (PMI) from the Institute for Supply Management. This could be supported by the factory orders, as the dollar looks for physical support to the speculation.

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

Posted October 28th, 2014 by Charles Purdy

Despite poor German data the euro holds its own

After opening the morning session on fairly firm footing thanks to the positive news regarding the European banks’ stress tests over the weekend, the euro dropped back into all-too-familiar territory following the release of some German data. IFO Business Climate figures, the results of a survey of 7,000 businesses’ opinions toward the current economic environment, came in below forecast and at their lowest level since 2012 – putting the euro on the back foot as it embarked on this week’s trading.

Today is light in terms of Eurozone data, with the monthly German import prices the only release of note. Traders will have one eye on Thursday and Friday, with a raft of growth, inflation and employment figures coming from across the bloc.

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 13th, 2014 by Charles Purdy

Euro undermined by poor German economic sentiment

Confidence amongst investors in the Eurozone’s largest economy has fallen to the lowest level since 2012, and the single currency depreciated yesterday as a result. The German ZEW Economic Sentiment index came out even lower than was forecast yesterday, suggesting that German growth in the third quarter is likely to be limited. Reasons for declining optimism may include the instability in Ukraine, Russian sanctions and a lack of demand from other large European states such as France and Italy. Whatever the most relevant reasons are, it certainly looks as though the fragile recovery initiated in the eighteen-nation bloc is now stalling. As a result we saw the euro move towards its lowest rate since November 2013 against the US dollar and weaken against sterling.

Today, Eurozone monthly industrial production data is due out in the morning and is expected to show a 0.5% increase in output. However, this data tends to have a more limited effect as data from the major Eurozone economies is released at an earlier date. More influential data is due out tomorrow in the form of German preliminary growth data, which will show whether the poor sentiment in Germany is justified.

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

Posted June 26th, 2014 by Charles Purdy

Limited movements for the Euro so far this week

This week the euro continued to surprise by strengthening but rate movements against major currencies weren’t significant as Eurozone data played a limited role. Yesterday’s German Consumer Climate figures came out marginally better than expected, but this did little to affect rate movements. The single currency ended the day comfortably below the 1.25 threshold against sterling and back up above 1.36 against the US dollar.

The next important data set due out is German inflation data, which is set to be released tomorrow, whilst today’s EU Economic Summit may provide some cause for trader activity.

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

Posted April 2nd, 2014 by Charles Purdy

Eurozone employment data slightly better than expected

Better-than-expected employment data caused the euro to perform well yesterday, as we saw moderate appreciation against both sterling and the US dollar. German unemployment figures revealed a decrease in the number of people not in employment for the fourth month running, which had a positive impact on euro performance. Similarly, the rate of unemployment for the Eurozone as a whole was revealed to be marginally better than expected, at 11.9% for the month of March – a 0.1% reduction in rate from February. Expectations of an interest rate change have largely subsided in recent weeks, but key economic indicators such as unemployment figures continue to have a notable impact on euro rates.

This morning, unemployment figures from Spain could influence the performance of the single currency, especially if it indicates whether or not the more troubled Southern European states are following Germany’s lead and seeing reduction in levels of unemployment. The European Central Bank (ECB) makes its monthly interest rate decision tomorrow and while – as mentioned – we are unlikely to see further changes at this stage, the following press conference has considerable potential to spur on trader activity.

Looking to buy or sell euros? Contact your trader now for live rates and updates, as well as for guidance on currency-buying solutions.

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.

Looking to buy or sell euros? Call your trader now for live rates and updates, as well as for currency-buying strategies to help you minimise risk and save money.

Posted February 21st, 2014 by Charles Purdy

Eurozone data disappoints but the euro holds on

Euro movements were relatively limited during the earlier parts of the week despite German Economic Sentiment data coming through markedly worse than expected on Tuesday. Poor economic data from France and Germany contributed to the single currency performing poorly against major peers yesterday, with manufacturing figures from both states worse than expected, as was Services data from France. These figures are important indicators of how well Eurozone nations are recovering and as such caused the euro to weaken against sterling, albeit briefly, and the US dollar.

There is little due out in the way of influential news today, although the G20 talks over the weekend have the potential to play a role in how the euro is traded, given the profile of the event and nature of discussions.

Deciding when to buy or sell euros? Call your trader now for the latest rates and updates.

Posted February 3rd, 2014 by Charles Purdy

Eurozone worries about low inflation, will the ECB cut interest rates?

The euro continued its slide on Friday last week, albeit at a slightly reduced pace. Eurozone consumer price index figures put inflation at a slightly lower rate than expected, contributing to the continued weakening. Inflation indicators are likely to continue to have a strong bearing on the performance of the eighteen-nation currency as the European Central Bank (ECB) remains open to implementing further measures to prevent inflation falling further. It is also worth noting the outcome of the German monthly retail sales data release on Friday morning, which revealed a drop of 2.5% in the value of sales for the final month of 2013. It is likely that these figures also contributed to euro weakness as expectations were of a marginal increase.

During the week we have the release for the Eurozone and individual countries of their Purchasing Managers Indices (PMI) for Manufacturing, Construction and Services. These will be closely scrutinized as this Thursday provides the greatest potential for volatility as the European Central Bank (ECB) will decide whether to alter the current Minimum Bid Rate, which is currently at a record low of 0.25%. There have been rumours of further reductions, which have been encouraged by the worse-than-expected consumer price index figures on Friday, and we can expect these rumours to increase if the PMI figures are worse than expected . Such a move by the ECB would certainly cause significant euro weakness..

In terms of data releases, further influence may be derived from Spanish unemployment figures on Tuesday and German trade balance figures on Friday.

Thinking of buying or selling euros? Get in touch with your trader now for live rates.

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