Although the festive holidays are edging ever nearer, the euro has managed to improve its position before the end of the year. Investors thought the sentiment surrounding the euro would be vulnerable after inconclusive elections in Spain over the weekend sparked political concerns, but we have seen the opposite happen, as the single currency strengthened against its two major trading partners; the US dollar and sterling.
Preliminary Gross Domestic Product (GDP) and Consumer Spending figures from France were released yesterday, but they are only an early indicator, and as such have made little contribution to currency rate movement. This is the final snippet of data until Christmas, so we should expect minimal movement over the next two days.
We anticipate a quieter time for the euro over the festive period, so this is a good time to review your currency strategy and get in touch with your trader for the latest developments.