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Posted January 21st, 2014 by Charles Purdy

Euro has a steady day

In a quiet day for data across the board, movements in the euro were limited. It appreciated slightly against sterling and the US dollar, but no sharp rate movements were seen. German Producer Price Index – a key indicator of inflation, detailing the change in price of manufactured goods – came in marginally lower than expected, but failed to have a notable effect.

Looking ahead to today, Eurozone data releases include the German ZEW Economic Sentiment index, which is expected to show rising optimism in Europe’s largest economy, and Spanish quarterly House Price Index figures. However, euro fortunes this week are likely to be more closely tied to Wednesday’s flash Manufacturing data releases and the preceding speculation.

Interested in purchasing or selling euro? Call your trader now to discuss the management of your exposure.

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Posted December 23rd, 2013 by Charles Purdy

The Euro holds steady despite its woes

The euro stayed fairly range bound on Friday with little data of high impact released. The only data of note was the monthly German inflation data which came out slightly worse than forecast along with German Consumer Climate  which was slightly better than expected. We have a quiet week ahead with the Christmas holidays with little to no data released although France is releasing its final estimate for third quarter growth figures and consumer spending for November tomorrow. However low trading volumes may cause exaggerated movements in the markets. Call your trader now for the latest news and rates!

Posted December 10th, 2013 by Charles Purdy

Poor German data has limited impact on the euro

The euro traded within a very narrow range against the US dollar whilst weakening slightly against sterling yesterday. Notably, German Industrial Production figures for October showed a 1.2% decline, making this the strongest decline in the Eurozone’s largest economy since May. German trade balance figures, which detail the difference in value between imports and exports, also came through slightly worse than expected. The single currency continued to show resilience in the face of negative data and despite weakening slightly against sterling, did not lose much ground in other major pairings. Today, French Industrial Production data may have some influence on euro performance when it is released this morning, however a speech by the President of the European Central Bank (ECB) at noon is more likely to cause volatility. Whilst the ECB avoided the prospect of negative interest rates in 2013, uncertainty remains regarding future monetary policy and traders will be paying close attention to the first of two public addresses by Mario Draghi this week. Call your trader now to stay on top of market movements.

Posted November 20th, 2013 by Charles Purdy

Business confidence in the Eurozone rises

German economic sentiment has risen for the fourth consecutive month with data released yesterday showing confidence has reached the highest level in four years. Furthermore, confidence in the Eurozone as a whole also rose; but, by less than anticipated, dampening any chance of a significant euro rally on the back of the German figures. The euro did gain some momentum, seeing strong gains against the Japanese yen following comments from one of the ECB board members who seemingly ruling  out the use of further quantitative easing or implementing negative rates to boost growth in the seventeen member state region. First thing this morning we saw inflation data from Germany; but, little else is due to be released from the Eurozone today. Call your trader now for a live update on the market.

Posted October 29th, 2013 by Charles Purdy

No bad news benefits the euro

In the absence of any notable data emanating from the Eurozone yesterday, the euro had a quiet day although it did strengthen below the 1.17 level against sterling. There was little movement seen against most major trading partners, with only minor fluctuations against both sterling and the US dollar. In general this month the euro has seen consistent appreciation against sterling and has made sharp gains against the US dollar during the second half of the month, reaching new highs for the year. This trend has continued, albeit at perhaps a slightly more moderate pace. Speculation continues to abound as to how long the single currency can maintain this trajectory. Today sees the release of German Consumer Climate data which has some capacity to impact on performance of the seventeen-nation currency. It should also be noted that a deluge of data from the US is being released today and is likely to play a determinate role in the movements of the euro. Call your trader now to see how long euro strength continues.

Posted October 22nd, 2013 by Charles Purdy

Euro strong against the US dollar

As the dust settles following the narrow avoidance of a US default the euro appears to be enjoying some modest benefits from the fallout. Yesterday saw some small fluctuations against the US dollar whilst the rate remained just below 1.37. We are very close to the year-high seen in February and may indeed see new highs if this trend continues. Investor confidence in the US dollar took a knock following the prolonged shutdown and some investors seem to have seen the seventeen-nation currency as a viable alternative safe-haven currency as data from the Eurozone improves. In terms of short-term performance there is little data set to be released today or tomorrow that is likely to affect euro pairings, however traders may begin to speculate ahead of Thursday’s key releases. Both German and French flash manufacturing data could cause movement on Thursday. Expectations are for figures to show modest growth for both nations so deviations could determine whether the single currency will continue to strengthen or not. Call your trader now to manage your euro requirements ahead of Thursday’s releases.

Posted October 15th, 2013 by Charles Purdy

Euro steady as we await news from the US

In what was a very quiet day in terms of market data across all currency’s due to public holidays with more attention than usual being paid to European Industrial Production figures. The month on month figure was posted at 1% which compared favourably to last months revised figure of -1%. This morning we have the German ZEW survey, this is a survey from German Business on how they feel about the current economic climate. A figure above 50 is considered good but today’s number is expected just fall short at around 49.6. The euro has not been seeing much of the headlines in recent weeks due to the issues in the US. This has seen the euro strengthen by over one cent against the US dollar in the last few days as uncertainty still weighs in the US. The rest of the week is fairly thin in terms of data with CPI (inflation) figures released mid-week. Call in now to see how the euro is fairing today.

Posted October 9th, 2013 by Charles Purdy

Good German export data supports the euro

The euro steadied its losses against the US dollar yesterday as news from the German economy kept market movements limited. Germany, Europe’s largest economy posted a better than expected €15.6 billion trade surplus as the country exported far more than it imported, a good indicator for growth. To counter this good news a separate survey showed that German industrial orders unexpectedly fell by 0.3% for August and this stopped the euro from gaining in the markets from the previous data release. Today we have German Industrial Output figures released, the previous number was -1.7% with an expected figure of 1% which could see the euro gain in the markets. This evening, the President of the ECB will be speaking and traders will listen closely to any clues regarding monetary policy or forward guidance, especially following last week’s ECB meeting where the central bank suggested they were not concerned with the euro’s recent appreciation in the currency market. Call in now to see how the euro is fairing today.

Posted September 20th, 2013 by Charles Purdy

Euro awaits the German elections

The euro started off Monday on an impressive note. However later on in the week it struggled despite the release of much better than expected German and European investor optimism figures which showed German optimism had jumped to 49.6 whilst European optimism as a whole rose significantly to 58 from 44. The Euro really took a back seat in yesterday’s trading session with the headlines coming from the US Federal Reserve meeting and the poor UK retail sales data. Following both of these unexpected results the Euro gained in the markets as investors looked to move their assets elsewhere. Whilst the Euro was not wholly responsible for these gains it did breach a previous seven month high as it rallied up to 1.3530 against the US dollar late Thursday afternoon. This weekend we have the German election. Chancellor Merkel is expected to remain in power but the structure of her coalition could change which will influence some of the nuisances of German policy towards the Eurozone which could have a significant effect on how the euro performs next week. Call now for an update.

Posted September 19th, 2013 by Charles Purdy

Euro awaits German elections

The euro had a quiet day yesterday in contrast to its major peers although it showed significant gains against the US dollar following the surprise announcement from the Federal Reserve not to start reducing their programme of quantitative easing. Little by the way of influential data was seen to emanate from the Eurozone, so movements in euro pairings were largely dictated by events elsewhere. The single currency had traded within a narrow range against the US dollar during the day, whilst sterling strengthened against the euro to reach its highest point since mid-January. The fortunes of the seventeen-nation currency are likely to be dictated by events outside of the Eurozone for the rest of the week as we expect a heavy concentration of important influences  from elsewhere, but very little from the Eurozone itself. However we should not discount the German election this weekend as it could be a significant factor on euro movements in the short to medium term. Call in now to see how the euro reacts to these influences.

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