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Posted June 3rd, 2016 by Charles Purdy

Euro undermined (slightly) by ECB

After a disappointing week last week the euro begun a small recovery as it strengthened against both sterling and the US dollar. Most of the gains made against the US dollar were erased on Thursday, despite it performing well earlier in the week.

Thursday was a key day for the single currency, with euro weakness down to European Central Bank (ECB) President Mario Draghi’s comments as he warned that inflation is likely to remain low for some time. The ECB revised its inflation forecast to 1.3% for 2016, and to 1.6% for 2017. Strength against sterling has again been largely down to the looming UK EU referendum vote. Draghi said he believes that the UK should remain in the EU, but that the ECB is ready for any outcome.

Composite PMI figures for the Eurozone are expected to fall slightly from 53 last month to 52.9, apart from this the euro markets are expecting a quieter end to a busy week.

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 June 3rd, 2016 by Charles Purdy

Euro undermined (slightly) by ECB

After a disappointing week last week the euro begun a small recovery as it strengthened against both sterling and the US dollar. Most of the gains made against the US dollar were erased on Thursday, despite it performing well earlier in the week. Thursday was a key day for the single currency, with euro weakness […]

Posted June 2nd, 2016 by Charles Purdy

Euro strength due to weakness elsewhere

The euro had a positive day against the pound sterling and US dollar, gaining over 0.8% and 0.4% respectively. In terms of data, the German Unemployment Rate had unexpectedly fallen to a fresh low of 6.1% in May. This is positive for the EU given the labour market in the EU’s major economy is showing […]

Posted June 2nd, 2016 by Charles Purdy

Euro strength due to weakness elsewhere

The euro had a positive day against the pound sterling and US dollar, gaining over 0.8% and 0.4% respectively. In terms of data, the German Unemployment Rate had unexpectedly fallen to a fresh low of 6.1% in May. This is positive for the EU given the labour market in the EU’s major economy is showing […]

Posted June 1st, 2016 by Charles Purdy

Positive Day Overall for Euro

It was a positive day overall for the euro yesterday as it strengthened against sterling and the US dollar. However, rather than this being a result of major strengthening in the single currency, it was largely because of weakness in the pound and greenback. Economic data from the eurozone came out as anticipated, with the […]

Posted June 1st, 2016 by Charles Purdy

Euro gains ground

The euro had a positive day overall as it made ground on its major rivals on Tuesday. The strength was largely down to weakness from sterling and the US dollar rather than because of any major strength from the single currency. Data from the Eurozone came out as anticipated, with the flash Consumer Price Index […]

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 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…

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