020 7898 0500On a day with a dearth of market stimulus for the euro, the currency gained two cents against sterling – purely thanks to the Bank of England’s (BoE) interest rate cut, and enhanced by a lack of movement against the US Dollar.
This morning will see the release of German Factory Orders, which are expected to increase by 0.5%, potentially driving some short-term strength for the Euro. Italian Industrial Production figures will also be released, and these are expected to show a sizeable improvement on last month’s figure of -0.6%, forecast at 0.3%. However, this is unlikely to cause much movement in the market.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
