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 October 2nd, 2014 by Charles Purdy

Key ECB meeting today, how will it affect the euro?

Manufacturing industry figures from across the Eurozone released yesterday morning further highlighted the problems that the region faces. Most worrying were the figures out of Germany – the bloc’s flagship economy – which released a figure of 49.9 (anything below 50 represents an industry contraction). The overall figure for the bloc came in at 50.3, marginally outperforming the figures from the German economy.

The data bolstered the case for the European Central Bank (ECB) to turn to stimulus measures in order to inject some life into the region’s economy; as such, eyes will be on the ECB conference this afternoon. Many are calling for more aggressive bond-buying techniques from the ECB, such as those adopted by the US Federal Reserve and other central banks over the last 24 months. Any announcement of stimulus measures this afternoon will likely undermine the euro further, but owing to the fact that many have already forecast the move, it may have, to some extent, already been priced into the market.

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 September 3rd, 2013 by Charles Purdy

Euro struggles despite better than expected data

The euro had a mediocre day yesterday despite Spanish and Italian manufacturing data coming out better than expected. After an array of mixed German data last week, these promising figures failed to have a notable effect on the fortunes of the single currency. Limited fluctuations were seen in the euro’s major pairings as it lost some ground against the US dollar and notably reached its weakest level since late June against sterling. We may see increased volatility for the seventeen-nation currency today and tomorrow in the build-up to Thursday’s interest rate decision and following the European Central Bank press conference. Commentators are not expecting the ECB to alter their stance to any great degree following last month’s meeting and are likely to maintain a similar stance on forward guidance as well as keeping interest rates at 0.5%. In the meantime, Spanish unemployment figures are set to be released this morning and variance from expectations may drive euro movement. The general consensus is for a minimal reduction in the number of unemployed people in Spain during the previous month. Call your trader now to see the effect the data has on performance ahead of Thursday’s more influential events.

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