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Posted December 3rd, 2015 by Charles Purdy

Today is the day!

The euro moved lower against the US dollar and the other major currencies yesterday, but strengthened quite significantly against sterling.

Overall it was a poor day for the single currency, thanks to weak Eurozone inflation data which added to the pressure on the European Central Bank (ECB) to add to its quantitative easing (QE) programme. Inflation fell slightly below the forecasted figure of 0.2% to 0.1%; most importantly core inflation – which takes out energy, food and tobacco – moved down to 0.9 from 1.1%. Many investors predicted that the ECB will cut interest rates further into negative territory, which could have a huge impact on the euro in the coming months.

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Posted December 2nd, 2015 by Charles Purdy

Investors are cautious ahead of Thursday’s ECB meeting

The euro extended gains against the US dollar and sterling on Tuesday as it found a great deal of support with the release of improved economic reports from the Eurozone. This was limited however, as investors were acting cautiously ahead of the European Central Bank’s (ECB) upcoming policy meeting and announcement this Thursday.

This morning, the euro is likely to be affected by the initial Consumer Price Index figures; likely to tick up from last month from 0% up to 0.2%. Producer Price index will also be released, but this is expected to fall slightly from -0.3% to -0.4%. Other than this there will be little support for the euro after a positive Tuesday.

Posted December 1st, 2015 by Charles Purdy

Likelihood of further QE weighs heavy on the Eurozone

Monday was a slow day for economic data in the Eurozone, with the only report of any value coming from Germany – where consumer price data fell in line with expectation, by 0.1% month-on-month, and 0.4% year-on-year. However, expectations for further stimulus from in the struggling Eurozone by the European Central Bank (ECB) drove the euro to its lowest rate since April.

Draghi confirmed that he ‘will not hesitate’ to place more money into the economy to stop inflation from falling below the targeted 2.0%; this decision on any fresh measures to support this aim will be revealed at the ECB’s meeting on the 3rd December.

Posted December 1st, 2015 by Charles Purdy

Sterling up against the euro but struggles against the US dollar

Despite a quiet start to the day, sterling performed well against the euro on Monday – but briefly fell to its lowest level since April against the US dollar. Sterling was able to gain ground against the euro on Monday, as both German retail sales and Italian inflation data missed their forecast level. In contrast […]

The post Sterling up against the euro but struggles against the US dollar appeared first on Smart Currency Business.

Posted December 1st, 2015 by Charles Purdy

Likelihood of further QE weighs heavy on the Eurozone

Monday was a slow day for economic data in the Eurozone, with the only report of any value coming from Germany – where consumer price data fell in line with expectation, by 0.1% month-on-month, and 0.4% year-on-year. However, expectations for further stimulus from in the struggling Eurozone by the European Central Bank (ECB) drove the […]

The post Likelihood of further QE weighs heavy on the Eurozone appeared first on Smart Currency Business.

Posted December 1st, 2015 by Charles Purdy

US dollar hinges on potential rate hike

It was a quiet day for the US dollar on the data front yesterday, with pending home sales the only major release of the day – which showed a slight drop on expectations. The US dollar, however, continued to strengthen anyway – thanks to continued speculation that the US Federal Reserve will raise Interest Rates […]

The post US dollar hinges on potential rate hike appeared first on Smart Currency Business.

Posted December 1st, 2015 by Charles Purdy

Mixed bag of news in Japan

The Governor of the Bank of Japan spoke in the early hours yesterday to address many of Japan’s pending issues. Industrial production was a mixed bag; output had actually risen 1.4% in October, but this just missed out on expectation. Overall, however, year-on-year production fell by 1.4%, its third straight decline. Despite this, overall sentiment […]

The post Mixed bag of news in Japan appeared first on Smart Currency Business.

Posted November 30th, 2015 by Charles Purdy

ECB in the spotlight as euro struggles

The euro re-approached its recent seven-month lows against the US dollar on Friday, as expectations for a December rate hike for the US comes into real focus. In terms of data it was a better day for the single currency as German consumer confidence da…

Posted November 30th, 2015 by Charles Purdy

Will sterling benefit from UK data releases?

Sterling weakened against both the euro and US dollar on Friday as the latest estimate of UK growth showed 0.5% economic growth throughout the previous quarter. Sterling fell close to a seven-month low against the US dollar. A quiet start to this week sees no major data releases from the UK until tomorrow. Results of […]

The post Will sterling benefit from UK data releases? appeared first on Smart Currency Business.

Posted November 30th, 2015 by Charles Purdy

ECB in the spotlight as euro struggles

The euro re-approached its recent seven-month lows against the US dollar on Friday, as expectations for a December rate hike for the US comes into real focus. In terms of data it was a better day for the single currency as German consumer confidence data came out slightly better at 9.3, beating the forecast of […]

The post ECB in the spotlight as euro struggles appeared first on Smart Currency Business.

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