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Posted March 31st, 2016 by Charles Purdy

Strong data from Germany pushes euro up on Wednesday

The euro had a positive day on Wednesday as it gained against both the US dollar and sterling, thanks to preliminary consumer price index data for Germany coming out at 0.3% – compared to the expected figure of 0.1%.

Today, unemployment figures from Germany are expected to remain at last month’s figure of 6.2%. Any deviation on this will likely end up in more euro strength which could ensure another strong week for the single currency – particularly against sterling as the euro continues to push closer to fresh 15 month highs.

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 March 30th, 2016 by Charles Purdy

Euro loses ground to the UK bank holiday weekend

The euro had a slightly disappointing day across the board yesterday, doing well against the US dollar but on the whole falling against the majority of its peers. On Tuesday morning, Consumer confidence for Italy just about beat expectation, but as thi…

Posted March 29th, 2016 by Charles Purdy

Eurozone consumer confidence data due this week

The euro had a mixed week last week, strengthening significantly against sterling as it pushed to its highest point in 15 months on Thursday. This was for the same reasons as before, with the uncertainty over Britain’s future in the European Union continuing to pressure sterling. However, the single currency performed relatively badly against the US dollar, after worse-than-expected data came out of the Eurozone, which worked against the single currency.

As it was a bank holiday last Friday and yesterday in the UK, liquidity was low in the market so we may well have seen some fluctuations on Monday. It is a quiet start to the week in terms of Eurozone economic data, until Wednesday, when consumer confidence figures are due. Thursday will bring German unemployment figures.

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

Posted March 24th, 2016 by Charles Purdy

Euro strength on UK uncertainty

The euro had a quiet day on Wednesday, with the single currency only seeing any real movement against sterling – however, this was down to UK currency weakness rather than any specific data out of the Eurozone. The euro managed to push to fresh 13-month highs, though, as sterling continued its poor form due to the uncertainty surrounding the results of the upcoming EU referendum in June. The competition between vote to remain and the vote to leave the union remains very tight, according to recent polls.

Very early this morning, business sentiment data was released from France. This is not seen as a significant indicator as is the same data from Germany, but it is still an important figure. With the release expected to hold steady at 103, any deviation from this could create some movement early on for the euro.

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

Posted March 23rd, 2016 by Charles Purdy

Mixed fortunes for euro despite Brussels attack

The euro again suffered mixed fortunes on Tuesday as it weakened against the US dollar as the terrorist attacks in Brussels hit the euro early in the day. However, this also affected sterling as the terrorist attacks increased the likelihood of a Brexit. This, combined with better-than-expected Purchasing Managers’ Index (PMI) figures for the Eurozone, caused the euro to push back to thirteen-month highs against the sterling.

Today there is no data or news expected from the markets. It is likely that euro movements will be dictated by the aftermath of yesterday’s events, or as a result of events elsewhere.

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

Posted March 22nd, 2016 by Charles Purdy

Euro stands to react to PMI data today

The euro had a mixed day on Monday as it weakened against the majority of currencies – including the US dollar – but strengthened slightly against sterling. The loss across the board was mainly seen in the afternoon after consumer confidence data was released. It fell by 0.9 points to -9.7, which caught investors by surprise, as they had expected improvement.

This morning, Purchasing Managers’ Index for the manufacturing and services industries are expected from France, Germany and the Eurozone on the whole. Today also sees the release of two key business confidence data releases. Also out are German IFO business survey data, which is forecast to also increase slightly from 105.7 up to 105.8, and ZEW German business confidence data, which is also forecast to increase from 52.3 up to 53. Given the effect of yesterday’s consumer confidence data on the euro, today could potentially spell movement for the euro, should any of the data not turn out as expected.

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

Posted March 21st, 2016 by Charles Purdy

Can the euro continue its ascendancy?

The euro had a quieter day on Friday, as it moved down against both sterling and the US dollar. Producer price index for Germany came out slightly worse than expected at -0.5%, compared to the forecast figure of -0.2%, but this was a slight improvement on last month’s figure of -0.7%, but overall the data disappointed investors. Other than this it was a slow day for the euro after a reasonable week – and the single currency begins this week on a positive note.

This week, the initial focus for investors will be German IFO business sentiment data, released today; this is expected to remain at the same level as last month at 105.7. This will be followed by ZEW business sentiment, which is forecast to fall slightly from 52.3 down to 52; but any figure above 50 is a positive one. On Thursday we have the Purchasing Manager Indices (PMI) for Germany, France and the Eurozone. Expectations are for the manufacturing indices to be under pressure and for service PMI’s to be steady given the amount of money the European Central Bank is pumping into the Eurozone economy.

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

Posted March 18th, 2016 by Charles Purdy

Can the euro end a great week on a high?

The euro has had a good week, strengthening consistently throughout against both the US dollar and sterling. Most of these gains were down to weakness elsewhere, rather than any news out of the euro area – evidenced by sterling’s slight fight back thanks to positive news yesterday afternoon. The main positive news for the single currency was the release of final consumer price index data from the Eurozone, with figures that were slightly better than the expected 0.1% at 0.2%, and, crucially, hugely better than last month’s figure of -1.4%.

This morning, the producer price index from Germany is released and this is expected to improve on last month from -0.7% to -0.2%; other than this we can expect the euro to have a quieter day.

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

Posted March 17th, 2016 by Charles Purdy

The euro stays out of the firing line

The euro had a quiet day on Wednesday, remaining relatively stable against both sterling and the US dollar until late in the day making significant gains against the US dollar. With no data expected from the Eurozone, investors were expecting news from both the UK and the US to have an impact on the single currency. The euro did manage to strengthen slightly against sterling after George Osborne announced during the Budget that the UK would be cutting its growth forecasts.

This morning, final consumer price index from the Eurozone are forecast to be released much higher than last month’s figure moving up from -1.4% up to 0.1%. This will continue to be an important figure, and it is expected to improve after the recent plans to increase the current quantitative easing package from €60 billion a month up to €80 billion.

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

Posted March 16th, 2016 by Charles Purdy

Excellent performance for the euro – will it last?

The euro had an excellent day against sterling as it pushed the UK currency back down to fresh thirteen month lows. This was generally down to sterling weakness in response to an Office for Budget Responsibility (OBR) pool data release, which showed th…

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