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Posted March 9th, 2015 by Charles Purdy

Euro under pressure which is set to continue

It was a difficult week for the euro as it remained under pressure after European Central Bank (ECB) President Mario Draghi confirmed last Thursday that the ECB will begin purchasing Eurozone government bonds as from today under the new quantitative easing program. The euro managed to fall even further against its major peers on Friday and hit new multi-year lows as the euro suffered from impressive non-farm payrolls data from the USA.

For the week ahead it is a quieter week for Eurozone data; on Thursday we have industrial production, expected to improve to 0.3%, in comparison to the previous month’s figure of 0%. Other than this release, the euro will have to sit tight and try and ride out the difficult climate that it is currently facing.

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 February 27th, 2015 by Charles Purdy

Euro friendless and weakening

The euro continues to be under pressure losing over a cent against both the US dollar and sterling during the course of yesterday afternoon. Business and consumer confidence sentiment data released on Thursday disappointed as they came out worse than f…

Posted January 19th, 2015 by Charles Purdy

Euro under pressure

The euro and the Eurozone are under pressure. Last week turned out to be one of the worst weeks in years for the euro, particularly against the US dollar as it hit 11-year lows and against sterling as it 7-year lows. And this week is likely to increase the uncertainty and pressure given the various key events and releases that are happening.

The situation worsened with downbeat Eurozone inflation data, causing further expectations that the European Central Bank (ECB) will announce additional stimulus measures in its upcoming policy statement on Thursday. It would seem now that the ECB is left with no choice but to implement quantitative easing on a large scale with the central bank expected to pump €500 billion to €1 trillion into the Eurozone economy.

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