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Posted October 30th, 2015 by Charles Purdy

Will the euro continue this week’s disappointing trend?

The euro had a disappointing day and an even more disappointing week, having remained at the low levels of the week against the US dollar and sterling. On Thursday inflation data was released from Germany; this was better than expected at 0%, up from the forecast of -0.1%. But the main damage was done earlier on in the week, with the European Central Bank likely to loosen monetary policy further in December or in the first quarter of 2016.

It’s likely to be a busy day for the Eurozone economy today, with three key pieces of data due. Very early this morning retail sales data from Germany was released; this was forecast to improve from a negative -0.4% up to a positive 0.4%.

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Posted October 29th, 2015 by Charles Purdy

Euro hit by increase expectations of US interest rate rise

The day started off on a poor note for the euro but had almost no effect on the market when French consumer confidence fell slightly from 97 to 96, and German consumer confidence held steady, remaining at the same level as the previous month. Following this, it was a positive day for the euro, particularly after ECB member Hansson stated that ‘he sees no convincing reason for further policy action at the next meeting’. This pushed expectations for any further quantitative easing back until December. Then the US Federal Reserve held their press conference and the euro went into freefall against the US dollar and sterling as the likelihood of the US increasing interest rates pre-Christmas increased significantly.

Posted October 28th, 2015 by Charles Purdy

Pressure mounts on euro

Tuesday was a fairly quiet day for the euro as it was largely affected by news from elsewhere rather than any significant news from the Eurozone economy itself. The single currency strengthened slightly against sterling, but weakened against the US dol…

Posted October 27th, 2015 by Charles Purdy

Potential QE increase restricts euro gains

The euro has a slow and mixed day on Monday as it initially weakened against sterling and weakened against the US dollar on Monday, and gains were limited as the likelihood for more quantitative easing continued to “hurt” the euro. Also on Monday, data showing that German business conditions had deteriorated this month also had an impact on the single currency, contributing to its weakening.

Today we can expect a data-free day for the single currency and investors will be likely to look to events elsewhere, particularly in the UK, which may affect the euro in turn.

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

Posted October 26th, 2015 by Charles Purdy

Euro falls as QE extension looks likely

At Thursday’s European Central Bank (ECB) meeting, interest rates were left unchanged and its President Draghi suggested that further stimulus measures will be taken in December if the economic situation in Europe does not improve. This had a significant effect on the euro as it weakened across the board.

This may well have been the intention of the ECB as the key Eurozone data release later this week are the inflation figures for the individual members of the Eurozone and for the Eurozone itself and given the ECB is very worried that inflation continues to hover around 0%. We also have unemployment figures which are expected to hold at 11%.

Posted October 23rd, 2015 by Charles Purdy

Euro tumbles as Central Bank contemplates further Quantitative Easing

The euro tumbled to three-week lows against both sterling and the US dollar on Thursday, after European Central Bank President Mario Draghi “hinted” at the possibility of further quantitative easing measures before the end of the year. The single currency struggled as soon as ECB President Draghi started speaking. Interest rates are being kept at an all-time low for the euro at 0.05% but Draghi also stated that the central bank will “re-examine” its monetary policy in December, therefore fuelling expectations of a further loosening of monetary policy by the year end.

To end the week, we expect a whole raft of Purchasing Managers Index (PMI) data from across Europe; firstly France, then Germany; and finally figures for the Eurozone as a whole.

Posted October 22nd, 2015 by Charles Purdy

Investors await news from today’s ECB Policy meeting

The euro held steady against sterling and the US dollar on Wednesday as it remained data-less and as we await the outcome of the latest monthly policy meeting and the subsequent announcement from the European Central Bank (ECB) later today. The single …

Posted October 21st, 2015 by Charles Purdy

Will the ECB extend their Quantitative Easing programme tomorrow?

A very quiet day on Tuesday for the Euro with very minimal data releases. There were, however, talks from a few European Central Bank (ECB) members, who stated that the Quantitative Easing (QE) programme is working, while one member Linde was more upbeat and singled out inflation being a cause for concern.

With no data releases due today, the spotlight will be on the interest rate decision and the press announcement that follow on Thursday – where it is expected the ECB will not announce any plans to extend their quantitative easing programme.

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

Posted October 20th, 2015 by Charles Purdy

Euro weakens as the possibility of an extended QE programme rises again

The euro had a disappointing start to the week on Monday as investors looked ahead to a European Central Bank (ECB) meeting later in the week, with speculation over whether it will announce plans to enlarge its Quantitative Easing (QE) programme very much in the balance – which hurt the euro throughout the day. The single currency started to weaken when the ECB governing council member Ewald Nowotny said on Thursday that additional measures to boost price growth in the euro zone are needed.

This morning producer price index data from Germany was released; this was forecast to improve from -0.5% up to -0.1%.

Posted October 19th, 2015 by Charles Purdy

All eyes on ECB events this week

It was an exceptionally quiet end to the week for the euro as it barely moved from where it opened on Friday against both sterling and the US dollar. The only piece of data released from the Eurozone was inflation data – this came out exactly as forecast at 0.2%, a modest improvement from last month’s figure.

This week the euro could continue to rally. Early on Tuesday Producer Price Index (PPI) data from Germany is likely to increase from -0.5% up to -0.1%. But most investors will be looking to Thursday, when the European Central Bank (ECB) will announce its most recent interest rate decision for this month.

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