Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
  Daily Currency News Euro US Dollar Educational Articles  
Posted January 30th, 2015 by Charles Purdy

Euro, to the surprise of many, holds its own

It has been surprisingly a quiet week for the multi-nation currency, with limited data out this week. Monday saw the start of the ECOFIN meetings, which is a meeting involving the Finance Ministers of the Eurozone. Topics were mainly focused on the Greek election result and Russian sanctions. Greek election results were also released Monday which showed the newly elected Syriza party take power, by forming a coalition with the Greek Independents, another anti-austerity party.

The opening of the Greek elections had resulted in slight weakness for the euro. However, this quickly turned to strength as the newly elected Syriza party confirmed their wish to stay in the euro and Eurozone. Their main aim is to re-negotiate their current austerity measures and package with the International Monetary Fund (IMF) and Eurozone; negotiations started on Thursday.

There were minimal data releases this week. We saw German consumer indication data which showed a slight increase on the previous month. German inflation suffered the same fate as EU inflation, continuing to drop and is now the lowest inflation rate this century for Germany. This can be attributed to the fall in oil prices and food prices, as well as the lack of growth in the Eurozone economy. German unemployment remained a positive figure with a drop in unemployment levels.

Today we will see a few key data releases with German retail sales, French consumer spending and Spanish inflation as well as growth data. The main data release will be the Eurozone initial inflation figure, which is predicted, yet again, to be below the previous month’s.

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

Comments are closed.

Posted January 26th, 2015 by Charles Purdy

Euro in for a tough week

It was another volatile and tough day for the euro on Friday, which saw the single currency continue its slide against the majority of its peers. The euro slid to fresh seven-year highs against sterling and also against the US dollar with lows not seen since September 2003. Data released on Friday morning, in terms of both manufacturing and services Purchasing Managers’ Indices (PMIs) for Germany, France and the Eurozone, was fairly negative on the whole, with only the French manufacturing PMI coming out better than expected. All the figures showed either contraction in their industries or very weak expansion.

And the bad news keeps on coming for the euro with Sundays Greek election resulting in success for the anti-austerity parties.

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus