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Posted October 31st, 2014 by Charles Purdy

Euro suffers as data broadly disappointing

It was a relatively quiet start to the week for the Eurozone, with the majority of data out Thursday and today. Thursday saw weaker-than-expected Inflation figures for both Spain and Germany. The only positives for the week were Spanish growth figures coming out as expected, and the fall in German unemployment – which may lead to a positive outlook for Eurozone unemployment data out today. Germany, the Eurozone’s powerhouse, has been under the spotlight recently with less than impressive figures over the past few weeks, as well as talk that they may need to lower their tax revenue forecast due to weakening economic conditions.

This morning we may experience a busy day for the euro. With German retail sales and French consumer spending figures both forecasted to come out weaker than the previous month, any surprises could cause significant shifts in euro markets. The main focus be on the Eurozone’s inflation figures as well as on the unemployment rate. Out of the spotlight recently, Greece may see themselves in more trouble. Prime Minister Antonis Samaras has until February to pull together a supermajority in the national parliament to elect a new president. Failure to do so will allow the anti-bailout opposition parties to force a snap election.

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 September 5th, 2013 by Charles Purdy

Euro has mixed day following disappointing retail sales

The euro had a mixed day yesterday, as varying data and external influences saw it reach a new three-month low against sterling before recovering slightly. Performance against the US dollar, however, was slightly improved as the pair traded within a narrow range throughout the morning, before moving sharply in the euro’s favour during the late afternoon. Monthly sales figures for the Eurozone failed to live up to expectations as they revealed marginal growth of 0.1%. Italian Services data disappointed, showing greater contraction than was expected, but conversely Spanish Services figures were markedly better than expected, revealing some growth as opposed to the contraction that was expected. Today, expect euro performance to be influenced by the European Central Bank (ECB) press conference following their rate decision. Interest rates are widely predicted to remain at 0.5%, but investors will be paying close attention to the statement that follows to get further insight into future monetary policy. Call your trader now to see how markets react to the ECB’s comments.

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