Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted April 16th, 2015 by Charles Purdy

Despite protests the euro holds steady

It was a surprising day for the euro as it initially pared losses against the other major currencies after European Central Bank President Mario Draghi said it expects to fully implement all of its quantitative easing program. During the conference Mario Draghi was then attacked by a protester shouting ‘end the ECB dictatorship’, a telling sign for how many countries feel about the central bank. The ECB also maintained its benchmark interest rate at 0.05% beforehand, in line with market expectations. Since Draghi finished speaking, the euro did works its way back to its previous position before the conference.
Yesterday was the main day for the single currency and now the only other major piece of data will be Consumer Price Index and balance of payments on Friday morning.

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

Comments are closed.

Posted April 15th, 2015 by Charles Purdy

Eurozone growth expectations support the euro

The euro received much-needed support on Tuesday after the International Monetary Fund (IMF) raised its growth forecast for the Eurozone in 2015 to 1.5%, up from the previous forecasted figure of 1.2%. The IMF believes that the weaker euro and the fall in oil prices will bolster growth for the single currency region – this positive news has come at a good time for Europe. The euro rallied against the weakening dollar on Tuesday having rebounded from one-month lows after US retail sales data, although positive, fell short of market expectations.

Today could be an important day for the euro with the interest rate announcement at 12.45pm.

Posted April 14th, 2015 by Charles Purdy

Euro still under pressure

The euro continued to fall against the US dollar on Monday as it moved to a one-month trough and remained under pressure as expectations for an upcoming US interest rate hike continued to hit the European currency hard. The single currency has fallen 13% against the dollar in this year alone, and continues to lack support after the European Central Bank (ECB) announced its €1 trillion quantitative easing program back in January. The ECB began purchasing assets in March, therefore moving the euro to new lows.

Unfortunately the Eurozone’s troubles continue, as uncertainty still lies over Greece’s bailout. Talks have begun between Athens and its lenders on potential economic reforms, which were resumed on Monday ahead of the meeting of euro area Finance Ministers on the 24th April 2015.

Posted April 13th, 2015 by Charles Purdy

Euro under huge pressure

The euro moved under 1.06 against its major peer, the US dollar, on Friday, as the American currency continued to pile on the pressure on the single currency. This was the lowest point we have seen in three weeks for the most widely traded currency pair in the world.

For the most part, euro investors are still focusing on whether Greece will be able to reschedule their debt with their lenders or have to default. A key date is this coming Friday.

During the week we have a raft of data releases; industrial production tomorrow , trade balance figures on Wednesday and inflation data on Friday.

Posted April 10th, 2015 by Charles Purdy

Euro still troubled, losing ground post Easter

Thursday was a fairly muted day for the euro against sterling, with little happening to either currency. The multinational currency did manage to shrug off any poor data releases as German industrial production increased to 0.2% in February; this was ahead of expectations for a 0.1% gain, as the production of energy and capital goods increased.

The euro did however lose ground against the US dollar, thanks to positive US jobless claims data adding to American optimism over the strength of the job market – this in turn sparked further speculations over a US interest rate hike.

Today we have industrial production data for France which is forecast to fall to -0.1%, whereas for the previous period it hit 0.4%.

Posted April 9th, 2015 by Charles Purdy

Euro weakens, Greece yet to agree with its lenders

Another tough day for the euro saw it steadily and consistently weaken against the pound from the start of play. An early morning surge against the dollar was short lived, as the multinational currency settled lower than it had begun the day. This could be attributed to less than encouraging data in both the Eurozone retail sales figures and German factory orders, although we expect the good news experienced by sterling and the dollar is likely to have boosted this movement.

Today is a relatively uneventful day for data releases , barring German industrial production and trade balance data. However, Greece does have to make a repayment of €400 million plus today to the International Monetary Fund which it claims it will do.

Posted April 8th, 2015 by Charles Purdy

Eurozone data improving, euro still under pressure

Over Easter, the euro had gained ground against the US dollar, even moving above the 1.10 level a couple of times. But come Tuesday, normality seems to have returned and it lost ground against both sterling and the US dollar.

However, economic data seems to be improving for the Eurozone albeit it can be patchy in nature. The Eurozone’s Purchasing Managers Index (PMI) for the Service Sector released yesterday increased for the fourth month in a row but the PMI for France fell to 52.4 for last month from 52.8 in February, expectations had been for it to remain the same.

Posted April 7th, 2015 by Charles Purdy

Euro still “controlled” by the Greek debt problem

Greece and its debt problems continue to be the centre of attention. On the whole the rhetoric is positive but until all is agreed it is very difficult to predict the actual outcome. Otherwise the euro enjoyed a steady week last week with no major movements.

Today we have the release of the March Eurozone Purchasing Managers Index for the Service Sector which is expected to hold steady. Similar to the UK we then have a raft of data covering output for industry and manufacturing for the Eurozone released towards the end of the week. If the Greek debt problem doesn’t blow we could see some confidence return to the Eurozone economy and possibly the euro.

Posted April 2nd, 2015 by Charles Purdy

Eurozone data supports the euro

Yesterday was a good day for the Euro as we saw it strengthen against both sterling and the US dollar. The final Purchasing Managers’ Index (PMI) data for the Eurozone exceeded expectations as it hit a ten-month high, which compared positively to PMI data from the UK and US, which fell short of expectations. However, we do still have the Greek debt problem that need to resolved and until this happens the euro is unlikely to make significant gains.

Today’s release of the European Central Bank (ECB) monetary policy meeting minutes may provide insight into the economic conditions that influence the central bank’s decision on how to set interest rates.

Posted April 2nd, 2015 by Charles Purdy

Eurozone data supports the euro

Yesterday was a good day for the Euro as we saw it strengthen against both sterling and the US dollar. The final Purchasing Managers’ Index (PMI) data for the Eurozone exceeded expectations as it hit a ten-month high, which compared positively to PMI data from the UK and US, which fell short of expectations. However, we do still have the Greek debt problem that need to resolved and until this happens the euro is unlikely to make significant gains.

Today’s release of the European Central Bank (ECB) monetary policy meeting minutes may provide insight into the economic conditions that influence the central bank’s decision on how to set interest rates.

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus