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Posted by Charles Purdy

Euro car sales stall but have high hopes | 18/06/2020

The euro lost half a cent against the USD during the day, while ending the day where it started against sterling. Car sales collapsed by 50% in May compared to last year, but the fact that over 580,000 Europeans escaped lockdown to buy new cars was seen as encouraging by some. Carmakers hope that people […]

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Posted by Charles Purdy

Euro strength due to weakness elsewhere | 21/06/2019

The euro had a positive day against the pound sterling and US dollar, gaining over 0.8% and 0.4% respectively. In terms of data, the German Unemployment Rate had unexpectedly fallen to a fresh low of 6.1% in May. This is positive for the EU given the labour market in the EU’s major economy is showing […]

Posted by Charles Purdy

Surprise strength for euro | 21/06/2019

The euro gained against the US dollar and sterling on Friday as very poor US non-farm payrolls undermined the US dollar and sterling. Volatility was muted following Thursday’s European Central Bank’s interest rate decision, which remained unchanged. Even though this was expected, there is still a focus on far more important economics events. This week, […]

Posted by Charles Purdy

Bad news for the euro as Draghi suggests the currency needs more help | 21/06/2019

The euro suffered on Thursday after markets were “surprised” by candid statements from the European Central Bank’s (ECB) Mario Draghi, who suggested that the EU stands to collapse economically if its member states do not choose to support it with additional liquidity. He said the ECB would ultimately fail to repair the EU’s balance sheet […]

Posted by Charles Purdy

Eurozone monetary policy in the spotlight this week | 2/10/2017

The euro ended on a disappointing note after a poor week as it lost ground against both sterling and the US dollar. The only significant data out from the Eurozone was French consumer confidence data, which beat expectations at 98, despite being forecast at 94. With sterling and the US dollar gaining a lot of […]

Posted by Charles Purdy

Positive Day Overall for Euro | 2/10/2017

It was a positive day overall for the euro yesterday as it strengthened against sterling and the US dollar. However, rather than this being a result of major strengthening in the single currency, it was largely because of weakness in the pound and greenback. Economic data from the eurozone came out as anticipated, with the […]

Posted by Charles Purdy

Euro undermined (slightly) by ECB | 2/10/2017

After a disappointing week last week the euro begun a small recovery as it strengthened against both sterling and the US dollar. Most of the gains made against the US dollar were erased on Thursday, despite it performing well earlier in the week. Thursday was a key day for the single currency, with euro weakness […]

Posted by Charles Purdy

Euro reached two-week high against sterling | 2/10/2017

Yesterday we saw the euro gain further strength, reaching a two-week high against sterling. This was due to EU referendum polls in the UK taking centre stage, with the latest polls indicating a jump in ‘Brexit’ support, which caused sterling weakness across the board. This trend was reversed overnight as the likelihood of a June […]

Posted by Charles Purdy

Disappointing Tuesday for euro | 2/10/2017

The euro had a slightly disappointing day on Tuesday, despite better-than-forecast revised growth figures, as it lost ground against sterling and the US dollar. Revised growth figures for the euro area were anticipated to fall from 1.6% down to 1.5% but actually ticked up slightly to 1.7%. The euro/sterling spike seen very early in the […]

Posted by Charles Purdy

Euro gathers strength against US dollar and sterling | 2/10/2017

The euro had a good day on the whole, as it made ground against both sterling and the US dollar. The single currency hit its highest point since the beginning of May against its biggest trading partner, the US dollar. The movement seen on Wednesday was down to weakness from the US dollar and sterling […]

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