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Posted January 7th, 2014 by Charles Purdy

Euro performance continues to be uninspiring

A day of mixed data from the Eurozone made for a mediocre performance from the single currency yesterday. However, some ground was made in major pairings as sterling and the US dollar performed poorly. In the eighteen-nation bloc, Spanish Services data detailed more growth in the troubled state than was predicted, whilst Services figures from Italy revealed contraction. Euro-driven volatility is a possibility today as the Eurozone Consumer Price Index is to be released this morning. Last month’s results impacted positively on the single currency as they indicated higher levels of inflation than were expected. This result allayed investor fears concerning further reductions in Eurozone interest rates and similar figures could spur further euro appreciation. Additionally, German unemployment data, which has shown little change in recent months, could impact upon performance should we see a greater change than expected. Call your trader now to discuss your euro strategy for 2014.

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