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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. Later in the week will be the interest rate decision by the European Central Bank, which will most likely be held at 0.05%. As ever the post meeting press conference and announcements will be closely monitored and any surprises would likely cause movement in euro markets.

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 February 5th, 2014 by Charles Purdy

Eurozone awaits tomorrows ECB meeting and announcement

The euro had a quiet day yesterday, with Spanish unemployment change figures being the only data release of any note. Although this transpired to be worse than forecast it had little impact on the currency as a whole given the already struggling Spanish economy. Eurozone inflation data rose slightly for the month of January, following a drop in December. The outlook for the euro is overall positive, ahead of what will be the closely watched European Central Bank (ECB) press conference held tomorrow, with their rate decision being revealed.

Today we have Spanish and Italian Services purchasing managers’ index (PMI) data being released, along with retail sales figures from the Eurozone.

Posted February 3rd, 2014 by Charles Purdy

Eurozone worries about low inflation, will the ECB cut interest rates?

The euro continued its slide on Friday last week, albeit at a slightly reduced pace. Eurozone consumer price index figures put inflation at a slightly lower rate than expected, contributing to the continued weakening. Inflation indicators are likely to continue to have a strong bearing on the performance of the eighteen-nation currency as the European Central Bank (ECB) remains open to implementing further measures to prevent inflation falling further. It is also worth noting the outcome of the German monthly retail sales data release on Friday morning, which revealed a drop of 2.5% in the value of sales for the final month of 2013.

Posted November 6th, 2013 by Charles Purdy

Euro undermined by poor employment data

The euro adopted a negative trajectory yesterday as the Eurozone’s economic outlook worsened slightly. Its movement against sterling was compounded by the positive data releases from the UK. The day began poorly for the single currency when Spanish unemployment data came through worse than expected. Unemployment has been a consistent problem throughout Southern Europe and figures showing an increase of 87,000 unemployed people over the previous month have undermined the notion of a sustainable Eurozone recovery. Further negativity came as revised Eurozone forecasts were released detailing lower growth and higher unemployment. As the lag in growth from the Southern European states seems to continue to stall the seventeen-nation currency in the short-term, investors will look to Thursday’s European Central Bank (ECB) decision to influence trading activity in the medium-term.

Posted September 2nd, 2013 by Charles Purdy

The ECB meeting and PMI data to create volatility for the euro

Friday was a mixed day for the euro as it saw some volatility as a result of a host of moderately influential data. German retail sales data was perhaps the most notable outlier of the day, revealing contraction in the sector as opposed to the moderate growth that was expected. The single currency lost some ground against then US dollar during the afternoon and early gains against sterling were wiped out. After a big week for German data, we will see more varied data being released this week. Spanish and Italian manufacturing data is released on Monday, which whilst each is not as influential as the German counterpart, could have an effect on euro performance ahead of the all-important ECB rate statement and following press conference on Thursday. The Governor of the Bank of England’s discussion of interest rates caused considerable market movement last week and the ECB press conference has the potential to have a similar effect on the euro. Expectations are for the rate to remain at an all-time low of 0.5%, but traders will be looking to pick up on any hints as to when we might see the rate increase. Call in now to see how the seventeen-nation currency reacts to a week of more dynamic data.

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