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Posted April 29th, 2016 by Charles Purdy

Data releases could move euro

The euro has had a fairly quiet week against the majority of currencies. It has strengthened slightly against the US dollar but this was down to US dollar weakness rather than any news or data out of the Eurozone.

On Thursday consumer confidence data continued to follow the theme of the week, coming out right as forecast at -9.3, the exact same figure as in the previous month. German Consumer Price Index (CPI) data also came out as expected, falling from the previous month, at 0.3%. This will be seen as a long-term issue, with inflation still much lower than the target figure of just under 2% for the European Central Bank (ECB).

Today could be a crucial day for the single currency as we have released flash CPI data for the Eurozone, along with flash growth data and unemployment figures in the morning.

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 April 28th, 2016 by Charles Purdy

Quiet day for the euro – but it still managed to push back against sterling

It was rather quiet in the Eurozone today, barring the release of the Money Supply year-on-year statistics; these were in line with the forecasted 5%. Despite the lack of news for the single currency, it had a fairly strong day – outperforming most of its trading partners, including a 0.5% rise against sterling.

We expect to see a much busier day today for the Eurozone, with both Germany and Spain releasing their unemployment data and CPI figures. Spanish unemployment is expected to stay at its previous level of 20.9%.

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

Posted April 27th, 2016 by Charles Purdy

Euro weakens on sterling strength

Tuesday was a mixed day for the euro as it made positive but small steps against the US dollar but fell against sterling as the weakening trend continued. With no data out from the Eurozone yesterday the markets continued to follow the trend as it did …

Posted April 26th, 2016 by Charles Purdy

Uneventful day for euro

Monday saw a rather uneventful day for the euro, which ended the day much as it started against most other major currencies and slightly stronger against the US dollar. German Ifo Business Climate data (a leading indicator of economic health) came out lower than forecasted at 106.6, a slight decrease on last month’s 106.7. This suggested the Eurozone economy is still slowing down.

Today is an unusual day with minimal data due from the Eurozone which could affect currency markets. Investors will therefore be on the lookout for surprise influences or events elsewhere to affect euro markets today.

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

Posted April 25th, 2016 by Charles Purdy

Will the euro’s fortunes reverse this week?

We saw an end to a bad week for the euro on Friday, as the currency reached month lows against its rivals. This was mainly due to the European Central Bank (ECB) President Mario Draghi speech confirming that inflation won’t return to the ECB’s goal anytime soon. Friday’s poor Eurozone Markit Services and Manufacturing Purchasing Managers’ Index (PMI) data added to the weakness of the euro as they all missed expected levels, with readings of 53.2 compared to previous of 53.3 and 51.5 compared to previous of 51.8. This was disappointing for the euro, and contributes to the unlikeliness of a possible rate hike.

On Friday, the release of more in-depth information on the ECB’s corporate bond buying scheme raised questions and concerns, especially combined with breakthroughs in the Greek debt talks that indicated an easing of said debt. This contributed to the euro having its worst day for nearly two weeks, and capping off its worst week in over a month.

Today we expect little movement within the euro due to the lack of data set to be released. Today we have the German IFO meeting  with expectations for an improvement, across the board, in business climate, current conditions and expectations. Later in the week we have Eurozone inflation figures and preliminary estimates for first quarter growth. Both sets of data are expected to show a slight improvement when compared to the previous quarter but a slight fall year on year.

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

Posted April 22nd, 2016 by Charles Purdy

End of a disappointing week for the euro

The euro struggled slightly across the board on Thursday, continuing its run of luck for the week against its major peers. This was a result of European Central Bank (ECB) president Mario Draghi confirming that he could not rule out further interest rate cuts to help the ECB hit their inflation target. The Bank said that it was still ready to utilise ‘all instruments available’ to ensure the inflation target is hit.

The euro has a particularly disappointing week against sterling, hitting a three week low as the fears over the UK’s European Union referendum took a slight step back and it became clear that the European economy continues to make limited progress.

Today we see the release of Flash Purchasing Managers’ Index (PMI) data from the Eurozone, and this is anticipated to fall slightly from 53.7 down to 53.2.

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

Posted April 21st, 2016 by Charles Purdy

Euro loses ground against a strengthening sterling

We saw limited movement for the euro on Wednesday although it did weaken slightly against both sterling and the US dollar. Many Eurozone countries continue to disagree about Greek’s debt relief which could be a storm just waiting to happen for the euro given last year’s problems. With no data releases yesterday, attention focussed purely on Draghi who spoke in the morning but failed to comment on anything of note.

We can expect further movement today, as we look forward to the European Central Bank meeting and the Eurozone interest rate decision and the press conference that follows. Both the Interest rate and monetary policy are expected to remain the same – but news from the press conference may well dictate the market.

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

Posted April 20th, 2016 by Charles Purdy

Mixed news for euro

The euro had another mixed day on Tuesday as it lost ground against sterling but put pressure on the US dollar. The main news was from Germany as ZEW German business confidence data, forecast at 8.2, exceeded expectations at 11.2. This made an impression against the US dollar, moving up for the second day in a row and erasing the losses seen last week. Against sterling, however, the opposite trend was seen as UK polls came out better than expected for the ‘stay’ vote, which affected the single currency.

Today Producer Price Index (PPI) data from Germany is expected to move back to a positive figure from -0.5% up to 0.2%. Other than this a quieter day is expected from the Eurozone.

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

Posted April 19th, 2016 by Charles Purdy

Spotlight on Germany in Eurozone today

It was a fairly quiet day for the euro on Monday as it lost ground against sterling, but this was down to strength from the latter, rather than influences from Eurozone data. On the other hand, the single currency managed to gain slightly against the U…

Posted April 18th, 2016 by Charles Purdy

The ECB in focus this week

The euro ended on a mixed note on Friday as it strengthened against the US dollar after worse-than-expected reports were released from the US, but the single currency weakened off slightly against sterling as investors began to unwind their positions before the weekend. Overall, a slow finish for the euro on Friday as there was no significant data released.

On Tuesday business confidence data will be released out from Germany. This is anticipated to tick up slightly from 50.7 to 52. Anything above 50 indicates expansion, and any unexpected results could lead to movements for the single currency.

Investors will also be looking towards the European Central Bank (ECB) on Thursday for their latest monetary policy decision. No change is expected, but investors will look for clues as to what course of action the central bank could take in the near future.

On Friday, we expect a slew of Purchasing Managers’ Indices (PMIs), in terms of manufacturing and services PMI data for France, Germany, and Flash figures for the Eurozone as a whole.

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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