Currency Note Euro

Despite poor German data the euro holds its own

By Ricky Bean October 28th, 2014

After opening the morning session on fairly firm footing thanks to the positive news regarding the European banks’ stress tests over the weekend, the euro dropped back into all-too-familiar territory following the release of some German data. IFO Business Climate figures, the results of a survey of 7,000 businesses’ opinions toward the current economic environment, came in below forecast and at their lowest level since 2012 – putting the euro on the back foot as it embarked on this week’s trading.

Today is light in terms of Eurozone data, with the monthly German import prices the only release of note. Traders will have one eye on Thursday and Friday, with a raft of growth, inflation and employment figures coming from across the bloc.