Currency Note Euro

Attention on Draghi in the Eurozone today

By Ricky Bean March 10th, 2016

The euro continued to follow the trend for the week as it weakened for the third straight day against other major currencies on Wednesday. The European Central Bank (ECB) is largely expected to cut interest rates further into negative territory at the monetary policy review today. Inflation for February fell back below zero, by 0.2%, with the ECB target still at 2%, the central bank will be highly likely to again increase stimulus measures into the euro area.

Early this morning industrial figures from France were released and are expected to increase sharply from last month, from -1.6% up to 0.8%. This may cause early movements but the main focus will be from 12pm, when Mario Draghi will begin speaking.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.