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Posted January 30th, 2014 by Charles Purdy

Will today’s Eurozone data boost the euro?

Aside from a short period of euro appreciation during late morning – that was quickly reversed – yesterday was again a day of limited movements in euro pairings. Money supply data was revealed to be worse than expected, detailing a 1% increase; however, this was not a large enough discrepancy to have any notable effect on the strength of the single currency.

Today will provide a greater array of data from the Eurozone, with unemployment data and Consumer Price Index figures from Germany having the potential to contribute volatility to the trading day. Additionally, Spanish quarterly flash GDP figures will give some indication as to how effectively the Southern European nation is making a recovery. Data releases over the near future will continue to have an effect on investors’ opinions as to the possible overvaluation of euro.

Thinking of buying or selling euro? Call your trader now for the latest rates.

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Posted January 10th, 2014 by Charles Purdy

Possibility of further interest rate cuts undermines the euro

Eurozone data has been mixed this week and failed to have a decisive impact on the performance of the single currency before Thursday. Tuesday’s German unemployment data was better than expected and revealed a reduction of 15,000 in the number of people not in employment. This positive influence was counterbalanced by the slightly lower-than-expected Eurozone Consumer Price Index data which showed that whilst confidence is justifiably building in Europe’s largest economy, the Eurozone as a whole is not out of the woods yet as regards the possibility of deflation and further interest rate cuts. Fears of this nature influenced European Central Bank (ECB) President Mario Draghi’s statement yesterday in which he re-asserted the Central Bank’s intention to keep interest rates at record lows for an extended period of time.

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