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Posted September 20th, 2013 by Charles Purdy

Euro awaits the German elections

The euro started off Monday on an impressive note. However later on in the week it struggled despite the release of much better than expected German and European investor optimism figures which showed German optimism had jumped to 49.6 whilst European optimism as a whole rose significantly to 58 from 44. The Euro really took a back seat in yesterday’s trading session with the headlines coming from the US Federal Reserve meeting and the poor UK retail sales data. Following both of these unexpected results the Euro gained in the markets as investors looked to move their assets elsewhere. Whilst the Euro was not wholly responsible for these gains it did breach a previous seven month high as it rallied up to 1.3530 against the US dollar late Thursday afternoon. This weekend we have the German election. Chancellor Merkel is expected to remain in power but the structure of her coalition could change which will influence some of the nuisances of German policy towards the Eurozone which could have a significant effect on how the euro performs next week. Call now for an update.

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Posted September 19th, 2013 by Charles Purdy

Euro awaits German elections

The euro had a quiet day yesterday in contrast to its major peers although it showed significant gains against the US dollar following the surprise announcement from the Federal Reserve not to start reducing their programme of quantitative easing. Little by the way of influential data was seen to emanate from the Eurozone, so movements in euro pairings were largely dictated by events elsewhere. The single currency had traded within a narrow range against the US dollar during the day, whilst sterling strengthened against the euro to reach its highest point since mid-January. The fortunes of the seventeen-nation currency are likely to be dictated by events outside of the Eurozone for the rest of the week as we expect a heavy concentration of important influences  from elsewhere, but very little from the Eurozone itself. However we should not discount the German election this weekend as it could be a significant factor on euro movements in the short to medium term. Call in now to see how the euro reacts to these influences.

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