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Posted May 17th, 2016 by Charles Purdy

Euro dependent on other currencies

The euro had a quiet start to this week moving sideways against the US dollar and sterling as the morning progressed. Against the US dollar this was the trend for the full day but against sterling it started to weaken as the day progressed, losing over a cent by the end of the day.

On the Eurozone data front it is also anticipated that we will have another quiet day with limited movement. Wednesday is likely to be the first real day of any significant reports due. In the meantime, euro movement will depend on that of its peers.

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 16th, 2016 by Charles Purdy

Euro vulnerable to movement elsewhere

The end of last week saw little movement for the euro, with the only data of note being the mid-tier preliminary growth figures in Germany and Italy (posting slightly positive in Germany and as expected in Italy), as well as flash growth data for the E…

Posted May 13th, 2016 by Charles Purdy

Busier day for Euro

Yesterday we saw bearish tones for the euro despite being short of data from the region with the euro weakening to a one-week low against sterling. Disappointing European inflation figures, which were reported at 0.2%, compared to the year on year previous of 0.8%, didn’t help the euro.

Today we expect a busier day due to inflation figures and growth data released across the board. Figures are expected to be worse than previously, which could cause further weakness for the euro against its rivals.

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 12th, 2016 by Charles Purdy

Successful Wednesday for euro

The euro had a fairly successful day on Wednesday against its major peers as it strengthened against both the US dollar and sterling. This was not down to any significant news or data out of the Eurozone, although the discussions on Greek debt do seem …

Posted May 11th, 2016 by Charles Purdy

Will the euro have a busier day today?

The euro had another quiet day on Tuesday as it lost a small amount of ground against sterling and the US dollar. Very early yesterday, German industrial production data came out worse than anticipated, at -1.3% (the forecast figure was -0.2%). The eur…

Posted May 10th, 2016 by Charles Purdy

Data failed to move euro significantly

Eurozone data on Monday showed that sentiment among investors and analysts had improved slightly in May, but concerns over the outlook for the global economy meant the single currency was fairly unaffected throughout the day. German manufacturing order…

Posted May 9th, 2016 by Charles Purdy

Will we see a rerun of the Greek debt saga?

This week has seen small movement for the euro against the dollar, pushing up at the beginning before sinking back – and then finishing slightly weaker compared to the previous Friday. Similar activity was seen against the pound, with the euro clawing back a cent from the slump we saw in April – but still with no drastic change.

Monday morning sees the release of May’s Sentix Investor Confidence. A higher confidence is predicted here, with an expected rise to 6.2 from 5.7, which suggests a slightly more bullish view of the single currency. We shall also see the finance ministers of the Eurozone and the Euro group president sit down for May’s Euro group meeting this week. Greek debt is on the agenda and with the Greek Parliament just narrowly voting for further austerity measures, amid some nasty looking riots, we will hopefully avoid last year’s saga with Greece receiving additional funds on a timely basis.

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 6th, 2016 by Charles Purdy

Steady week for the euro

The euro has been fairly flat this week. It strengthened slightly against sterling before weakening later on in the week, and remaining practically unchanged against the US dollar, until some strength was seen on Thursday. The main news was the news fr…

Posted May 5th, 2016 by Charles Purdy

Slow day for the euro – expected to continue throughout the week

The euro remained very flat on Wednesday against its major peers, remaining in the same position throughout the day. Purchasing managers index (PMI) figures from the Eurozone were released exactly as forecast at 53.0 – slightly down from February’s figure of 53.1.

For the rest of the week, we do not expect to see any further significant data from the Eurozone. However, the single currency may well be affected by news from elsewhere such as today’s UK services PMI and the US non-farm payrolls data released on Friday, given the major relationship between euro and the US dollar – so please don’t assume that the lack of Eurozone data means that the rest of week will be fairly quiet 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 May 4th, 2016 by Charles Purdy

Diverse beginning of the week for the euro

The euro had a mixed start to this week, erasing the losses seen last week against sterling, but weakening slightly against the US dollar. On Tuesday news came from the European commission confirming that economic growth is likely to be slower than anticipated this year, and inflation would also remain subdued. The Eurozone is now expected to expand 1.6% in 2016, in comparison to the previous figure of 1.7% stated in February. Meanwhile, the consumer price index is expect to rise 0.2% – even after the 0.5% increase seen in February. Despite this varying news, the euro strengthened against sterling – although weak data from the UK seemed to be the main driver for this.

Purchasing Managers’ Index (PMI) from the Eurozone will be released early this morning at 9am, and this is anticipated to fall slightly from February’s result from 53.1 down to 53.

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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