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 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. Will it be a case of “light the blue touch paper and stand back” or will common sense prevail. I am sure there will be some tough negotiations and the Greeks certainly need some light at the end of the tunnel.

In addition there will be a lot of Eurozone data being released. Today we will have the German Business Climate (an indicator of economic health) as well as the start of the Eurogroup meetings, which will discuss the current Eurozone economy and those effecting it, which also moves on to Tuesday with the ECOFIN meetings (this is only attended by Finance Ministers from EU member states). We could see movements in the market from this as various reports are given throughout Monday and Tuesday. German retail sales are also expected from Wednesday.

German consumer inflation is expected Thursday. With the previous figure being 0%, we could see an expected fall that will run parallel with the EU Inflation, as well as German unemployment. Friday seems to be one of the busiest days on paper, as we are expected to see French consumer spending data along with inflation figures for Spain and the Eurozone. Inflation for the Eurozone is expected to continue falling for the short-term as reported by European Central Bank (ECB) President Mario Draghi on Thursday, until the ECB’s quantitative easing measures start stimulating the economy. Unemployment data is also out for the Eurozone, which has been static since August 2014.

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 2nd, 2015 by Charles Purdy

The euro has a disappointing end to 2014

The euro finished off 2014 in largely disappointing fashion, seeing losses against a number of its major partners. The multi-nation currency dropped to the worst level in three months against sterling, nearing the two and a half year lows seen at the start of October.

The euro also continued its fall against the US dollar, extended to a further low, the lowest since July 2012. These movements continued to centre around political and economic uncertainty in Greece, with their snap elections due on 25th January causing the euro to weaken.

After yesterday’s New Year close, markets will reopen today with data releases from both Spain and Italy.

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