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Posted May 31st, 2016 by Charles Purdy

Eurozone monetary policy in the spotlight this week

The euro ended on a disappointing note after a poor week as it lost ground against both sterling and the US dollar. The only significant data out from the Eurozone was French consumer confidence data, which beat expectations at 98, despite being forecast at 94. With sterling and the US dollar gaining a lot of strength this week, the single currency struggled to limit its losses.

This week could be a better start for the single currency as consumer confidence is expected to improve from -9.3 up to -7. This would be a noticeable increase, which could lend support to the euro.

Thursday will be the main focus point for the week, as European Central Bank (ECB) policymakers meet for their monetary policy meeting. Interest rates are expected to remain at 0% but Draghi’s speech afterwards will be the focal point, potentially shedding light on whether any changes to current monetary policy will be happening in the near future.

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 May 31st, 2016 by Charles Purdy

Eurozone monetary policy in the spotlight this week

The euro ended on a disappointing note after a poor week as it lost ground against both sterling and the US dollar. The only significant data out from the Eurozone was French consumer confidence data, which beat expectations at 98, despite being forecast at 94. With sterling and the US dollar gaining a lot of […]

Posted May 27th, 2016 by Charles Purdy

Can euro regain some strength next week?

This week has been a difficult one for the euro, as it struggled throughout the week against both the US dollar and sterling. The single currency saw losses of 1.50% in a single day on Wednesday against sterling and almost 1% losses against the US dollar; most of this was driven by much worse than […]

Posted May 26th, 2016 by Charles Purdy

Euro loses ground thanks to positive EU sentiment in the UK

The euro lost ground against sterling for the third day in the row yesterday thanks to polls suggesting that the UK will vote to remain in the EU strengthening the British currency. Movement for the single currency against the US dollar was fairly limi…

Posted May 25th, 2016 by Charles Purdy

Poor data means a bad day for the euro

The euro continued its poor start to the week yesterday, losing ground against both the US dollar and sterling. The single currency saw losses of 1.50% in a single day against sterling and almost 1% losses against the US dollar, with most of this driven by shocking ZEW business confidence economic sentiment data, which was released at 6.4 – a significant fall from the expected figure of 12 and last month’s 11.2.

More sentiment data is out this morning, with German business IFO sentiment data forecast to tick up slightly from 106.6 up to 106.8. However with yesterday’s disappointing data release, if this also comes out at a damaging figure then further losses are expected for the single currency.

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

Posted May 24th, 2016 by Charles Purdy

Big news from Germany this morning could reverse yesterday’s euro losses against the US dollar

The euro had a mixed start to the week as the single currency lost a little bit of ground against the US dollar yesterday, but did manage to stabilise against sterling after last week’s losses. This disappointment against the dollar was seen after data showed that growth in the euro area’s private sector slowed to a 16-month low in May; this was despite solid growth in Germany and France and showed that other areas across the Eurozone continue to disappoint.

Tuesday could be a big day for the euro, Gross Domestic Product (GDP) figures for Germany is expected to show an improvement from last month’s figure from 0.3 to 0.7% – and a big increase for quarter-on-quarter growth. Later on today, at 10am, we will see the release of ZEW German business confidence data, which is anticipated to increase slightly from 47.7 up to 48.7. This figure is still below the crucial level of 50 but continuing rises are expected to push it up to this all-important figure.

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

Posted May 23rd, 2016 by Charles Purdy

Potential movement in euro markets today

Friday was a mixed day for the euro as it remained flat throughout the day against the US dollar but it erased a fair proportion of the losses seen against sterling as investors were looking to profit from the movements and close their positions before the weekend.

This week is likely to get off to a highly volatile start with Monday seeing the release of key data. Firstly, we have flash Purchasing Managers’ Index (PMI) data from the Eurozone, which is anticipated to increase slightly, from 53 up to 53.2. Consumer confidence is also released, which is expected to improve from -9.3 up to -9, which is still a dismal figure. Any deviations from these expectations could affect the euro’s performance.

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

Posted May 20th, 2016 by Charles Purdy

Disappointing week for euro

The euro had a very disappointing week as it lost significant ground against sterling and the US dollar. The single currency struggled as a quiet week for data meant that it was left unsupported throughout the week. The data that was released wasn’t supportive, not least disappointing inflation data which showed that the Eurozone was heading back towards deflation. Not helpful for the euro.

The biggest movement was seen against sterling where the euro weakened 2.5%, with the EU referendum polls looking likely that the UK will remain in the EU. This was the lowest we have seen for three-and-a-half months. The losses seen against the US dollar was again down to the US Federal Reserve looking likely to raise interest rates soon, which in turn weakened the single currency.

This morning German Producer Price Index (PPI) is and it is anticipated to improve from March’s figure of 0%, up to 0.2%.

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

Posted May 19th, 2016 by Charles Purdy

Will euro strength depend on sterling again?

Wednesday was a poor day across the board for the euro as it weakened against currencies like the US dollar and sterling. The euro it hit its weakest point in three weeks against the US dollar.
Data showed that the region slid back into deflation last…

Posted May 18th, 2016 by Charles Purdy

Key inflation data today could shift euro sentiment and levels

The euro had a busier-than-expected day on Tuesday but it relied again on other currencies for any significant movements. With weakness seen through the night on Monday after the Eurozone banking holidays, the euro managed to claw back some of its losses against sterling as poor UK inflation data allowed the single currency to strengthen.

Against the euro’s major peer – the US dollar – the little action seen on Monday was replicated as a small sharp movement was seen on Tuesday afternoon, but no data or news was released to support this.

Today may well be the most important day for the single currency this week as final Consumer Price Index (CPI) figures are expected to fall dramatically from 1.2% in March to a flat reading of 0% in April. This will be a huge concern for the Eurozone; a drop was always likely to be seen after the initial boost of quantitative easing. However, if the Eurozone economy falls back into deflation then this is likely to have a large effect on 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.

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