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Posted November 24th, 2015 by Charles Purdy

Encouraging Monday for the euro

The euro had a much improved day on Monday after it managed to trim some of its losses against sterling and the US dollar, bouncing back from after multi-month lows against its major trading peers. The single currency improved initially when data showing that growth in the Eurozone’s private sector picked up to the best rate since May 2011. It was also reported that the Eurozone Purchasing Managers’ Index (PMI rose to 54.4 from 53.9 in October. However, it wasn’t all good news as growth in France’s private sector fell to the lowest level in three months, with the service sector activity in particular hit by the terror attacks in Paris.

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Posted November 23rd, 2015 by Charles Purdy

A busier week for Eurozone data which could affect the euro

It was a mixed end to the week for the euro, as the single currency strengthened very slightly against sterling, but weakened against the US dollar. Most of this was down to the European Central Bank (ECB) President Mario Draghi reiterating that the central bank will do “what is necessary to ensure that inflation returns rapidly towards its goal of just under 2%”. It was also a mixed result for data last week, with Producer Price Index (PPI) data coming out a little worse than expected for Germany at -0.4%, while Consumer Confidence figures vastly exceeded expectation and ticked up to -6, an impressive figure, bearing in mind the forecast was -7.5.

Posted November 20th, 2015 by Charles Purdy

Euro close to an eight year low against sterling

Yesterday, the euro received its biggest news all week as the minutes of the European Central Bank (ECB) October meeting confirmed that there was a significant risk that it will once again miss its inflation target. After struggling against both sterli…

Posted November 19th, 2015 by Charles Purdy

Euro is quiet

Wednesday was another day of little progress for the euro; it slightly improved its position against sterling and the US dollar in the morning, before these gains were then erased later on in the day. The recovery was limited due to the concerns that events in Europe over the weekend could affect the already fragile economic recovery.

This morning at 9am, the European Central Bank (ECB) net investment flow figure is released, along with the balance of payments data for the previous month; neither of these are expected to have much of an effect.

The majority of investors in Europe will be watching the continual developments surrounding last week’s events, and seeing how the French government will cope with this.

Posted November 18th, 2015 by Charles Purdy

Euro falls thanks to sentiment around extended Quantitative Easing

The euro pushed down to its lowest levels in seven months against sterling and the US dollar on Tuesday, despite the much better than expected data from Germany; this showed that German investor confidence has rebounded positively. This disappointing performance was largely down to increasing likelihood of the European Central Bank (ECB) monetary policy being loosened in December. This confirmed that growth in Germany, which is the Eurozone’s largest economy, will remain on track for its forecasted growth in quarter four of 2015.

Today the focus is likely to be on other markets so we could expect a quieter day but with events in Paris continuing to unfold nothing can be certain.

Posted November 17th, 2015 by Charles Purdy

Euro hit hard by economic sentiment

The euro had a poor start to the week on Monday, remaining in a weak position against both sterling and the US dollar – and falling to a six month low against the Japanese yen. The terror attacks in Paris resulted in a hit on risk sentiment for the single currency – a regular result of unexpected attacks, as demand for safe haven assets are boosted.

European Central Bank (ECB) president Mario Draghi spoke in Madrid but this had limited impact on the euro, along with the release of Consumer Price Index (CPI) data, which came out as forecast at 0.1%.

Posted November 16th, 2015 by Charles Purdy

Is the euro poised for another disappointing week?

The euro had a poor day to end another disappointing week against sterling and the US dollar, as discouraging Eurozone third quarter growth data had a negative effect on the single currency. Data earlier on Friday morning showed that Eurozone growth fi…

Posted November 13th, 2015 by Charles Purdy

Will a busy morning help to ease the euro’s struggles?

After what has been a poor week so far on the whole for the euro, European Central Bank (ECB) President Mario Draghi continued to add insult to injury yesterday, as he dropped yet more hints that the ECB is preparing to expand its quantitative easing p…

Posted November 12th, 2015 by Charles Purdy

Spotlight on Draghi today

The euro had a better day on Wednesday after a difficult series of days as it managed to edge higher against the US dollar, pulling back from close to seven-month lows as monetary policy expectations and now political upheaval in Portugal had put press…

Posted November 11th, 2015 by Charles Purdy

Euro on the fall – will this continue?

Tuesday was a day to forget for the euro, as it struggled against most major currencies.

Italian Industrial production was released at 9am, below expectation – although this had little effect on Euro’s strength. The biggest issue for the single currency was the speculation at around 10am, when the Liikanen report suggested that inflation has not been growing at the speed expected, and that the deposit rate may have to be cut by a further 0.1%. This caused a bout of euro weakness, and we saw sterling rise to towards recent highs. Against the dollar, the euro hit lows not seen since April.

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