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Posted August 28th, 2015 by Charles Purdy

Currency is a rollercoaster for the euro

The euro had a very mixed week against the US dollar and sterling, starting the week flying high but being pegged back on Thursday as the stock markets and general market sentiment improved. The release of positive US data hit the euro hard as it struggled across the board, and fell over 1.5% after the European Central Bank warned that there is still a real danger of missing their inflation target – meaning the current economic stimulus programme may need to be continued.

Today, business and consumer confidence from the Eurozone is released at 10am, and this is forecast to weaken to 103.8 from 104.

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Posted August 27th, 2015 by Charles Purdy

Mixed bag for the euro

The euro had a mixed day against sterling, and struggled against the US dollar. The euro ended the day down by more than 1% on Wednesday after a senior European Central Bank policymaker warned that the risks of their short-term high inflation target has made it more likely that more quantitative easing may be actioned. Earlier this week the single currency received an additional boost as fears over the global economic outlook scaled back expectations for a US rate hike – and this benefited the euro.

Early this morning French consumer confidence data was released, and this was forecast to weaken from 102 to 101.

Posted August 26th, 2015 by Charles Purdy

Euro falls back to as markets appear to level out

Tuesday was a slightly more disappointing day for the euro after it strengthened so much across the board on Monday. A natural sell-off of euros took place in the morning, as investors felt the single currency had been over bought during Monday’s drama.

Data figures released yesterday were positive, with the German IFO business survey data hitting 102.2 – compared to the 102 predicted. German Gross Domestic Product (GDP) figures were released as expected, before the sell-off began at 9am.

There is little data out of Europe today to affect the euro’s relative strength, however, with markets nervous about the situation in China, we could see significant swings through the course of the day.

Posted August 25th, 2015 by Charles Purdy

Euro is the big winner on ‘Black Monday’

The euro had another strong day on Monday, as it reached over six month highs against the US dollar and a four month high against sterling. The single currency benefited as events came to a head over the fears of a China-led slowdown in the global economy. This slow-down pushed back expectations as to when interest rates will be hiked in the UK and the US, and the euro was the main benefactor.

Very early this morning we had Gross Domestic Product (GDP) figures from Germany; which showed a slight increase to 0.4% from last quarter’s 0.3%. At 9am IFO German business sentiment is likely to fall slightly from 102 from 102.4.

Posted August 24th, 2015 by Charles Purdy

Great end for the week for the euro

The euro strengthened across the board last week, breaking down the all-important GBP/EUR level of 1.40 thanks to positive news from the Eurozone throughout Friday. Purchasing Managers’ Index (PMI) data was released at 54.1, slightly better than the forecast figure of 53.8, while Consumer Confidence data was also an improvement of the forecast figure, hitting -6.8; a sign that the Eurozone is growing in strength.

The confirmation that a third Greek bailout had been passed by Greece’s creditors and its parliament enabled the single currency to move to a two month high against sterling, and when Greek PM Alexis Tspiras stood down late on Thursday this only served to push the euro higher.

Posted August 21st, 2015 by Charles Purdy

Can the Euro end this positive week on a high?

Thursday was another good day for the euro as it strengthened against both sterling and the US dollar. GBP/EUR has now fallen below the 1.40 level, reaching a 1-month low, and the single currency was able to reach its highest rate in two months against…

Posted August 20th, 2015 by Charles Purdy

Euro on the rise thanks to data from elsewhere

For the third straight day, little happened for the euro on Wednesday – although it was able to strengthen slightly against both sterling and the US dollar thanks to positive news from the German parliament vote for a third Greek bailout.

One the world’s major ratings agency, Fitch, also upgraded its credit rating of Greece to CCC, following the completion of last week’s bailout. The gains against the US dollar was also down to factors elsewhere, as the US markets became nervous around the FED meeting minutes last night.

Earlier this morning, Producer Price Index data from Germany was released; this was forecast to remain at the same as last month’s figure of -0.1%.

Posted August 19th, 2015 by Charles Purdy

Eurozone affected by other currencies on Tuesday

Tuesday was a quiet day for the euro; with the action happening elsewhere, the currency’s strength was reliant on the movement of other currencies – and there was little it could do stop opposing forces.

Today at 9am, we have Balance of Payments data, and Net Investment flow from the Eurozone; last month’s figure was a positive 41 billion for the euro economy, so anything above this number should help support the single currency. Other than this, we will have to wait until Thursday for the first major piece of data to come from Europe, after a very quiet week.

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

Posted August 18th, 2015 by Charles Purdy

Euro continues to catch up

A mixed start for the euro on Monday; it performed well against sterling but stayed at a similar level against the Us dollar. This was after a good week last week for the single currency against these major pairs – with a 3% appreciation and finally dropping below the 1.40 levels against sterling. The Greek crisis has come to a resolution for the time being, enabling the euro to catch up with these two major currencies thanks to interest rates and commodity movements.

There is no major data from Europe expected until later this week, so we expect a quiet few days for the euro.

Posted August 17th, 2015 by Charles Purdy

Greek bailout programme under the Eurozone spotlight

The euro remained almost unchanged against the US dollar on Friday while it weakened off against sterling during the afternoon. Investors were predominantly focusing on upcoming data releases in the form of Eurozone inflation and growth, while the Greek Parliament continued to debate and finalise the conditions of a third bailout plan ahead of a key vote. Greek Prime Minister Alexis Tsipras’s has managed to secure a parliamentary vote on the bailout package, at the expense of criticism from members of his own party. The Eurogroup of finance ministers commenced a meeting to discuss the bailout on Friday.
For this week there is little economic data out from the Eurozone, save flash Purchasing Managers’ Index (PMI) data from Germany and France on Friday.

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