Currency Note Euro

Can the euro maintain last week’s positivity?

By Ricky Bean March 23rd, 2015

It was a strong performance from the euro last week. Greek Prime Minster Alexis Tsipras assured European Union creditors at a summit in Brussels that the current coalition will present the necessary economic reforms to unlock further bailout funds to avoid bankruptcy. Uncertainty though still remains and there is a key meeting between the Greek Prime Minister and the German Chancellor today with the aim of resolving the funding impasse.

There are a raft of flash Eurozone Purchasing Manager Index figures for March released today and tomorrow. Progress has been positive over the last few months and the expectation is that this will continue to be the case. On Wednesday the German Ifo business survey is released and this is expected to also show progress although tempered by lack of a resolution to the Greek debt crisis and subdued exports as global trade weakens.