Currency Note Euro

Euro awaits tomorrows inflation data

By Smart Currency August 28th, 2014

The euro gained some strength for the first time in four days, moving it away from four-year lows against the US dollar. A Reuters report released yesterday referenced anonymous European Central Bank (ECB) sources, stating that no stimulus measures will be implemented unless we see a serious risk of deflation. As mentioned in yesterday’s note, the ECB has cited inflation as the primary gauge for forthcoming monetary policy decisions. As such, eyes will still be firmly on tomorrow’s yearly flash estimate, forecasted to come in at 0.3%. Today’s German preliminary monthly inflation figures will also hold some sway, as will European business and consumer confidence data released this morning.