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Posted March 27th, 2015 by Charles Purdy

The Euro has an okay week

On Thursday, the Euro fell against a basket of currencies. European Central Bank (ECB) President Mario Draghi said the effect of the bond buying programme has been ‘significant’, and stated that the fall in long term interest rates have weakened the currency.

However, over the course of the week it has been positive for the euro as it strengthened universally. We seem to be a step closer to the Greek debt problem being sorted out (for the time being) and economic data out of the Eurozone has been positive and in some cases very positive. The important point to remember though is the ECB still wants the euro to be weak to boost export competiveness and when they want something they tend to get it.

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 March 6th, 2015 by Charles Purdy

Euro has a very tough week

It was a big day on Thursday for the euro as it managed to hit new lows against sterling and the US dollar, hitting the lowest rate since September 2003 against the US currency. This was due to the European Central Bank (ECB) announcing specifics on its €1 trillion euro stimulus program. The central bank announced the program back in January to start the €60 billion a month instalments on the 9th March and this will continue up until at least September 2016. Interest rates remained at an all-time low at 0.05% as investors expected. The quantitative easing details will likely force the euro to weaken further.

Posted December 1st, 2014 by Charles Purdy

Important ECB meeting this week has the power to move the euro

Friday saw the euro trade in a similar vein to what we saw throughout the week, with very little to shout about. Inflation figures from across the bloc released in the morning had the potential to cause some movement in currency markets, but the result came in line with forecast at 0.3%; as a result, markets were largely unchanged.

Looking forward to this week, the focus will mainly be on Purchasing Managers’ Index (PMI) industry health figures for both manufacturing and services. Released across today and tomorrow, the figures indicate industry expansion or contraction and are closely watched by the markets.

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