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Posted April 30th, 2015 by Charles Purdy

The euro continues to surprise

The euro had a positive day again, rising to two month highs against the struggling US dollar on Wednesday, thanks to the release of figures showing that the US economy has begun to slow down from recent impressive figures, making a rise in US interest rates less likely.

The strength was supported by better news for the European economy. German consumer price index had risen at a rate of 0.4% in April; this was broadly in line with market expectations, but most importantly this eased concerns over the threat of deflation for the European economy as a whole. Further data showed that the Eurozone lending to the private sector had moved higher in March for the first time in three years, and consumer inflation increased for the first time in 2015.

This morning we have German retail sales which are forecast to drop to 3.2%, when the previous figure was 3.6%.The big news today will be the most recent European unemployment and Consumer Price Index data being released at 10am this morning.

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 April 29th, 2015 by Charles Purdy

Euro continues its “good” run

It was an improved performance from the euro yesterday, but largely due to events elsewhere as the Eurozone currency rose to three-week highs against the US dollar as US consumer confidence had dropped last month. The euro initially gained against sterling but this was also down to poor growth figures from the UK, released at 0.3%, but gave back these gains as the day progressed. The same old story remained as the euro continued to be held back on the lack of optimism that Greece will eventually reach an agreement with its creditors on a new bailout.

Today we have a few data releases across the day, starting with German retail sales release early in the morning, forecast to improve to 0.4% from last month’s -0.5%.

Posted April 28th, 2015 by Charles Purdy

Euro steady as hope increases for a Greek debt settlement

The euro held steady on Monday after last week’s euro strength, when poor US data put the pressure on the demand for the US Dollar currency. The underlying problem for the single currency is that it remained in a vulnerable position after the European finance ministers said that Greece must present a full economic reform plan by early May in order to access any further funding. This seems more likely following the side lining of the Greek Finance Minister from the negotiations following an acrimonious meeting between the Eurozone Finance Ministers last week. The end game must be soon as Greece has very little money left.

Posted April 27th, 2015 by Charles Purdy

Euro holding on

Despite the on-going Greek debt problem, the euro had a reasonable week last week and even gained ground against the US dollar. The IFO German business sentiment data released on Friday was optimistic helping the currency’s positive trend.

This week should be an interesting one; the majority of the European market are certainly keeping a close eye on Greece, whether its current bailout crisis is under control or an exit from the euro is likely. The situation remains on-going and uncertain, so if Greek bailout talks should take a dramatic turn for the worse over the coming weeks the euro can expect to pay with a heavy fall.

Posted April 24th, 2015 by Charles Purdy

Euro just about holds its own

Thursday was an unusual day for the euro; poor Purchasing Managers Index (PMI) data came out worse than expected, but the single currency managed to push higher against the US dollar, after downbeat US jobless claims and new home sales data put a large dent in the demand for the American currency. Another disappointing report for Spain’s unemployment rate showed a rise to 23.8% in the first quarter of this year, from 23.7% in the three months to December. This rounded off a less than positive week for the euro as it continued to wobble particularly against sterling when previously it had started to show small signs of recovery.

Posted April 23rd, 2015 by Charles Purdy

Euro slides against sterling

The euro remained under pressure on Wednesday, with the Greek government no closer to reaching an agreement with its Eurozone partners, and the International Monetary Fund (IMF) accessing the remaining bailout funds; this fuelled fears that the country could be forced out of the Eurozone. Previously, the single currency had climbed to its highest point in over a week against the US dollar, following some weak US economic reports, but the fallout from the Greek discussions along with stronger data from the US reflected poorly on the euro.

The single currency hit a month low against sterling also, as the Bank of England minutes were very much in favour of keeping interest rates where they are, some investors had been worried a cut in interest rates may have been on the cards.

Posted April 22nd, 2015 by Charles Purdy

Euro holding on despite various worries

Although a steady day for the euro, it remains largely weak as concerns over Greece continued to weigh in on the single currency. What’s more, bad news was released from Germany – with their economic sentiment data showing signs of deterioration, after a few positive months. The forecasted figure was 55.3, but the actual figure fell way below the mark at 53.3 – continuing a difficult week for the single currency. Yesterday, Bloomberg also reported that the European Central Bank (ECB) is considering much stricter rules on Greek banks so they can access much needed emergency liquidity; this therefore adds even more pressure on the shoulder of Athens.

Posted April 21st, 2015 by Charles Purdy

Euro has a steady start to the week

There was a fairly muted performance from the euro on Monday, but generally the currency weakened thanks to a continued lack of agreement on the economic reforms for bailout funds between Greece and its creditors. It certainly looks as though Greece is no closer to reaching an agreement with the rest of the eurozone and the International Monetary Fund (IMF) over reforms of the bailout funds, which creates a real fear that Greece could be forced out of the euro zone.

Producer Price Index data from Germany was released on Monday morning, coming out marginally worse at 0.1% – but the impact of this was very limited.

Posted April 20th, 2015 by Charles Purdy

Eurozone data this week; will it boost the euro

After what must be considered a better than expected week for the euro, Greece will yet again be the star of the show this coming week, and certainly be number one on the agenda for members of the Eurozone on Friday. The country is again finding itself in new troubles, and needs to try and sort out a new bailout package with its lenders in order to keep the bailout agreement extended.

This week’s data releases includes Aprils Flash Purchasing Managers’ Indices for the Eurozone which are expected to show continued expansion as the economy continues to inch its way forward.

Posted April 17th, 2015 by Charles Purdy

Euro steady despite expectations of a Greek default

All things being equal it was probably a good week for the euro as the situation in Greece escalated. Economic data seems to be improving as the weak euro is boosting exports and the European Central Bank made no changes on Wednesday to their monetary policy.

Yesterday the yield on 10-year Greek bonds took a jump, and the yield on two-year bonds also spiked, as concerns begin to grow that Athens is no closer to reaching an agreement on their bailout with any of its creditors, heightening the expectation that Greece could be forced out of the euro zone.

Today we have the Consumer Price Index – a measure of inflation – out at 10am as the main release for the day, following balance of payments released earlier on in the day.

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