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Posted February 26th, 2015 by Charles Purdy

Will todays flow of German data boost the euro?

The euro remained largely unchanged on Wednesday against other major currencies. This was largely due to the on-going concerns over Greece’s bailout extension, which is keeping investors cautious. This morning however, we see a raft of data out of Germany – this includes consumer confidence, retails sales and unemployment data. This could be a boost for a currency that desperately needs one.

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 January 12th, 2015 by Charles Purdy

Will the ECB boost the Eurozone economy this week?

Fortunes were mixed for the euro at the end of last week, seeing no single, direct shift in the currency from factors within the Eurozone. The only data it had to go on was industrial production, which showed an unexpected decline in both France and Germany. With this, the euro fell against sterling, but rose over the day against a weaker US dollar. However, the continued negativity meant that the multi-nation currency was still set for a weekly decline for the fourth week in a row, the longest run since September of last year.

This week has a few releases of note that could impact on the currency’s performance, starting with a monthly economic report from Germany.

Posted October 28th, 2014 by Charles Purdy

Despite poor German data the euro holds its own

After opening the morning session on fairly firm footing thanks to the positive news regarding the European banks’ stress tests over the weekend, the euro dropped back into all-too-familiar territory following the release of some German data. IFO Business Climate figures, the results of a survey of 7,000 businesses’ opinions toward the current economic environment, came in below forecast and at their lowest level since 2012 – putting the euro on the back foot as it embarked on this week’s trading.

Today is light in terms of Eurozone data, with the monthly German import prices the only release of note. Traders will have one eye on Thursday and Friday, with a raft of growth, inflation and employment figures coming from across the bloc.

Posted August 13th, 2014 by Charles Purdy

Euro undermined by poor German economic sentiment

Confidence amongst investors in the Eurozone’s largest economy has fallen to the lowest level since 2012, and the single currency depreciated yesterday as a result. The German ZEW Economic Sentiment index came out even lower than was forecast yesterday, suggesting that German growth in the third quarter is likely to be limited. Reasons for declining optimism may include the instability in Ukraine, Russian sanctions and a lack of demand from other large European states such as France and Italy. Whatever the most relevant reasons are, it certainly looks as though the fragile recovery initiated in the eighteen-nation bloc is now stalling.

Posted June 26th, 2014 by Charles Purdy

Limited movements for the Euro so far this week

This week the euro continued to surprise by strengthening but rate movements against major currencies weren’t significant as Eurozone data played a limited role. Yesterday’s German Consumer Climate figures came out marginally better than expected, but this did little to affect rate movements. The single currency ended the day comfortably below the 1.25 threshold against sterling and back up above 1.36 against the US dollar.

The next important data set due out is German inflation data, which is set to be released tomorrow, whilst today’s EU Economic Summit may provide some cause for trader activity.

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 2nd, 2014 by Charles Purdy

Eurozone employment data slightly better than expected

Better-than-expected employment data caused the euro to perform well yesterday, as we saw moderate appreciation against both sterling and the US dollar. German unemployment figures revealed a decrease in the number of people not in employment for the fourth month running, which had a positive impact on euro performance. Similarly, the rate of unemployment for the Eurozone as a whole was revealed to be marginally better than expected, at 11.9% for the month of March – a 0.1% reduction in rate from February. Expectations of an interest rate change have largely subsided in recent weeks, but key economic indicators such as unemployment figures continue to have a notable impact on euro rates.

Posted March 12th, 2014 by Charles Purdy

Euro remains stable

There was not a great deal of movement in euro rates yesterday in what was generally a stable day in the currency markets. The single currency traded within a relatively narrow range against both sterling and the US dollar. German Trade Balance data, while slightly worse than expected, still detailed a larger surplus for January 2014 than in January 2013. This January, Germany exported goods to the value of €90.7bn, while importing €75.7bn.

Eurozone Industrial Production figures are due out today, and are expected to indicate a 0.6% increase in output for the eighteen-nation bloc. The Eurozone figures tend to have a more limited impact as data for the two largest economies – Germany and France – are released previously, so unless the figures deviate significantly from expectations, their effect on euro rates is likely to be limited.

Posted February 21st, 2014 by Charles Purdy

Eurozone data disappoints but the euro holds on

Euro movements were relatively limited during the earlier parts of the week despite German Economic Sentiment data coming through markedly worse than expected on Tuesday. Poor economic data from France and Germany contributed to the single currency performing poorly against major peers yesterday, with manufacturing figures from both states worse than expected, as was Services data from France. These figures are important indicators of how well Eurozone nations are recovering and as such caused the euro to weaken against sterling, albeit briefly, and the US dollar.

There is little due out in the way of influential news today, although the G20 talks over the weekend have the potential to play a role in how the euro is traded, given the profile of the event and nature of discussions.

Posted February 3rd, 2014 by Charles Purdy

Eurozone worries about low inflation, will the ECB cut interest rates?

The euro continued its slide on Friday last week, albeit at a slightly reduced pace. Eurozone consumer price index figures put inflation at a slightly lower rate than expected, contributing to the continued weakening. Inflation indicators are likely to continue to have a strong bearing on the performance of the eighteen-nation currency as the European Central Bank (ECB) remains open to implementing further measures to prevent inflation falling further. It is also worth noting the outcome of the German monthly retail sales data release on Friday morning, which revealed a drop of 2.5% in the value of sales for the final month of 2013.

Posted January 21st, 2014 by Charles Purdy

Euro has a steady day

In a quiet day for data across the board, movements in the euro were limited. It appreciated slightly against sterling and the US dollar, but no sharp rate movements were seen. German Producer Price Index – a key indicator of inflation, detailing the change in price of manufactured goods – came in marginally lower than expected, but failed to have a notable effect.

Looking ahead to today, Eurozone data releases include the German ZEW Economic Sentiment index, which is expected to show rising optimism in Europe’s largest economy, and Spanish quarterly House Price Index figures. However, euro fortunes this week are likely to be more closely tied to Wednesday’s flash Manufacturing data releases and the preceding speculation.

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