The euro finally rebounded from 12-year lows against the US dollar on Thursday, after a week of steep declines and pushing new lows every day. Impressive industrial production data really surprised the markets by coming out at 1.2%, with the forecast only at 0.1%. The single currency received an additional boost against the US Dollar after data showed an unexpected drop in American retail sales throughout February, which could make an early rate hike less likely. To put recent market movements into context, this week’s levels are 20% up on the corresponding week in 2014.
We do not expect any significant data releases tomorrow.
If you are looking to buy or sell euros at this volatile time, contact your trader now for live rates, the latest news and to discuss purchasing strategies.