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Posted December 31st, 2014 by Charles Purdy

Euro continues to show weakness

It was a quiet day for the euro yesterday, with the single currency weakening a little following poor Spanish inflation figures, but on the whole experiencing little volatility.

As we approach 2015, the euro is on track for its biggest annual depreciation since 2005, down 12% against the US dollar since January 2014.

We expect another understated day for the euro today, with no significant data releases expected. A German bank holiday may see liquidity in the market fall a little, and as a result increase volatility, but with no fundamental data to drive movement, we may not see much of an impact.

Our traders are always happy to take a call, even on the last day of the year, so please call to get the latest update on the euro.

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Posted December 30th, 2014 by Charles Purdy

Greek developments weaken the euro

Political developments in Greece look set to undermine the euro and the Eurozone as the Greek Prime Minister Antonis Samaras said on live TV in Athens that it is likely that parliamentary elections will be held on January 25, a year and a half before his coalition’s term was due to end. The likelihood of the Greeks electing an anti-austerity party seem high which will put the country into direct conflict with the European Central Bank (ECB) and the International Monetary Fund. Uncertainty should be bad for the euro but the markets may take a different view as the Greek position needs clarity and a final solution rather than the current situation which is viewed as being untenable.

Posted December 29th, 2014 by Charles Purdy

How will the euro react to events in Greece?

A bit like for sterling there is a lack of key data releases in the Eurozone although we do have the on-going saga of the Greek Presidential vote to keep markets interested. Expectations are that a general election will have to be called and given that it is highly likely that the anti-austerity party will win the election, it will make for an uncomfortable few months as the Eurozone, the IMF and the new Greek government work out what to do next and whether or not Greece even stays in the Eurozone.

On Friday we do have some data releases for the Eurozone so we could expect some reaction of they are not in line with expectations.

Posted December 24th, 2014 by Charles Purdy

Another uneventful day for the Euro

Tuesday was another relatively quiet day for the Euro, with the only market data released being the Italian retail sales coming out at 0.8% year on year.
With liquidity low in the market, we may see the odd spike, but in terms of any major market movem…

Posted December 23rd, 2014 by Charles Purdy

Markets focused on Greek Presidential elections

The euro had a relatively quiet day on Monday. Consumer price index figures came out at -10.9, slightly better than the forecast of -11 and significantly better than last month at -11.6. This was a small but positive step for the euro, gaining slightly across the board.

This morning at 7.45 we saw French growth data come out at 0.3% as expected, whilst consumer spending came in short at 0.4% when a reading of 0.5% had been anticipated. These two figures are likely to be the last pieces of market data that are likely to have an effect on the euro before Christmas.

Posted December 22nd, 2014 by Charles Purdy

The euro continues to struggle

The euro continued to struggle on Friday, weakening against sterling and falling to fresh multi-year lows against the US dollar. German consumer climate figures released in the morning slightly surpassed forecasts, but this was not particularly reflected in the markets.

It is a quiet week this week, with the only release of note being tomorrow’s French consumer spending figures.

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

Posted December 19th, 2014 by Charles Purdy

Euro has a mixed week

The Euro has had a difficult week as it weakened across the board as concerns around Europe still bore a large weight on the currency. The situation in Greece still remains the underlying feature for concern for the single currency in the short term although it does seem that the opposition party is committed to staying in Europe.

Yesterday the euro lost ground against sterling even though business confidence data from Germany came out marginally better than expected at 105.5, compared to the forecasted figure of 105.4. The currency had a mixed day against the US dollar, ending in the same place as it started the day.

Posted December 18th, 2014 by Charles Purdy

Euro also falls against the US dollar

There is not too much to report on from the euro side of things yesterday, with the morning’s Eurozone inflation figures coming in as forecast. The single currency lost some ground following comments made by European Central Bank (ECB) Board Executive Benoit Coeure, who stated, regarding any decision around further stimulus measures, that “it’s not that much of a question on when we should do something, but more a discussion on the best way to do it”. Any decisions to adopt further stimulus measures will likely weaken the euro, and as such the markets responded accordingly to the statement. Further ground was lost against the US dollar in the late session, as the euro battled with dollar strength.

Posted December 17th, 2014 by Charles Purdy

Euro still holding its own

The euro started yesterday in good stead, taking support from a raft of data released in the early session. Purchasing Managers’ Index (PMI) health figures from both the manufacturing and services industries were largely positive, and German ZEW economic sentiment data came in at an impressive 34.9 (anything above 0.0 represents a positive response). After a strong morning the euro saw much of its gains erased, however, particularly against the relatively strong sterling.

Looking forward to today we have monthly inflation figures from across the Eurozone. Inflation levels have been closely watched over recent months, with the European Central Bank (ECB) President Mario Draghi citing inflation levels to be the main driver behind any decision to push on with quantitative easing (QE).

Posted December 16th, 2014 by Charles Purdy

Euro has a positive start to the week

A generally uneventful start to the week for the euro  with limited data releases. However it did make good gains against sterling as sterling seems to be losing favour with investors.

Today promises to be more eventful, marking the beginning of a busy few days for Eurozone data releases. A raft of Purchasing Managers’ Index (PMI) releases from across the bloc will be released for both the manufacturing and services industries. These will be closely watched by the markets as the PMI is a leading monthly indicator of the state of the area’s relative economies.

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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