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Posted June 30th, 2014 by Charles Purdy

Key inflation Eurozone data to be released this week

Last week ended in an uneventful fashion for the euro, with little movement against the US dollar and just creeping below the 1.25 mark against sterling. Claude Juncker, despite strong disapproval from David Cameron and the UK, was named as the new President of the European Commission, although this did not have a notable bearing on the performance of the single currency.

Looking to the week ahead, today sees the release of Eurozone Flash Consumer Price Index (CPI) data, which offers an early indication of expected levels of inflation in the eighteen-nation bloc. German CPI data on Friday had a limited effect as it was very much as expected, but if today’s figures deviate from the 0.6% forecast then we may see more in the way of rate movements. Beyond this, the European Central Bank (ECB) is set to deliver its monthly interest rate decision on Thursday. After rates were lowered to an all-time low last month, we are not expecting to see another change just yet – however sentiments expressed in the following press conference are likely to give rise to greater activity.

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 June 27th, 2014 by Charles Purdy

Quiet week for the euro

The euro bucked recent trends in the early part of this week, making gains, albeit moderate ones, against both sterling and the US dollar. Despite this, yesterday’s shaper rate movements in the opposite direction reversed this. In general, data releases from the Eurozone have had a muted influence this week, as trader activity and events elsewhere have provided stimulus for rate movements. We are likely to see this change as data releases start to provide a more clear-cut picture of how European Central Bank (ECB) President Mario Draghi’s recent policy changes are affecting the recovery of the eighteen-nation bloc. However, this week the figures have been mixed and largely predictable.

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 June 25th, 2014 by Charles Purdy

Euro strengthens despite low Business Confidence

Data released yesterday showed that Business Confidence in the Eurozone’s largest economy has declined again, now reaching its lowest point in 2014. However, once again, this economic data did not have the expected effect on the single currency – in fact, perhaps more due to external influences, the euro began to strengthen against both sterling and the US dollar throughout the dollar, before retreating against the US dollar later in the day. The movements seemed to suggest that the effect of Eurozone fundamental economic data has been muted of late, whilst events elsewhere and key rate levels have played an increased role.

Posted June 24th, 2014 by Charles Purdy

Euro sees little movement on Monday

Yesterday’s manufacturing data from the Eurozone disappointed slightly on release, but not to a large enough extent to have any strong bearing on the performance of the euro. French figures in particular suggested underperformance and showed contraction in the sector, whilst Eurozone figures as a whole came out marginally worse than expected. As such, the euro saw little net movement against sterling and the US dollar. It is unlikely that we will see any rally of note until key data sets, such as the Manufacturing and Services Purchasing Managers Index figures, reflect a more consistent recovery.

This morning we await German Business Climate data, which serves as an indicator of the level of optimism in the business community of Europe’s largest economy and can have considerable influence on the short-term performance of the euro.

Posted June 23rd, 2014 by Charles Purdy

Important Eurozone data releases likely to influence the euro

Friday’s euro movements largely kept in line with the week as a whole, with changes determined by events elsewhere as opposed to actual influences from within the Eurozone. The euro weakened against the US dollar throughout the day, and saw little movement against sterling.

The week ahead is set to be a contrast, with some more important data set to be released from the eighteen-nation bloc. Manufacturing data from both France and Germany is expected to be released on Monday, and will give an indication of how the struggling sector has fared during the last month. This is likely to impact the performance of the single currency during the early part of the week.

Posted June 20th, 2014 by Charles Purdy

No major impetus for the euro this week

The euro has had quite a flat week against sterling but gained ground against the US dollar which more to do with US news rather than Eurozone news. There was a lack of significant Eurozone news this week but those worth noting are inflation data which came out lower than expected and the German Economic Sentiment figures which showed the lowest level of optimism in Europe’s largest economy since 2012.

Yesterday was once again a quiet day on data releases; Eurogroup meetings held all day did not have much impact on volatility. Today we have German inflation data released, as well as current account data from the rest of Europe.

Posted June 19th, 2014 by Charles Purdy

Euro strengthens slightly against sterling and US Dollar

A dearth of Eurozone data yesterday meant that the movements in euro rates occurred largely as a result of events elsewhere. The release of the Monetary Policy Committee minutes meant the single currency fared better against sterling, and there was strength against the US Dollar thanks to speculation ahead of the Federal Open Market Committee (FOMC) interest rate decision. The day’s positive movements mark a departure from the more recent general trends, and as such were limited.

Today’s Eurogroup meetings, which will be attended by European Central Bank (ECB) President Mario Draghi and Finance Ministers from across the eighteen-nation bloc, may play a role in determining whether the euro can continue to strengthen against its major trading partners.

Posted June 18th, 2014 by Charles Purdy

Lowest level of optimism in Germany since 2012

German Economic Sentiment figures released yesterday showed the lowest level of optimism in Europe’s largest economy since 2012. This represents a continuation of the weakening in optimism that has been occurring throughout 2014, and as such did not have a strong bearing on the performance of the single currency throughout the day. Movements in euro rates were influenced to a greater extent by events elsewhere.

Today is set to be another relatively quiet day on the Eurozone data front, but rate movements are still likely as there is plenty to watch out for elsewhere. In addition to the UK revealing the Monetary Policy Committee votes on interest rates and asset-purchases, the Federal Open Market Committee in the US will be making their Interest Rate Statement late in the day.

Posted June 17th, 2014 by Charles Purdy

Euro makes a better than expected start to the week

The euro made a brighter start to the week yesterday after a prolonged period where the single currency was slumping across the board. Eurozone inflation data, in the form of the Consumer Price Index released yesterday morning showed inflation in the eighteen-nation bloc to be down again at 0.5%. This was expected and therefore had a limited effect on movements in euro rates. The reason for the euro’s more positive performance seems to be more technical than data-influenced as we saw it avoid the 1.35 threshold against the US dollar and make a modest recovery, whilst hovering around the 1.25 mark against sterling.

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