Currency Note Euro

Euro continues to struggle as Spanish unemployment data disappoints

By Ricky Bean September 4th, 2013

The euro had a relatively poor day yesterday, notably falling to a three month low against sterling and also steadily lost ground against the US dollar. Spanish unemployment data came through slightly worse than expected, which may have had some impact on the poorer performance, but momentum is not in the euro’s favour at the moment and performance has suffered as positive data has been a regular feature for major peers, but has been sporadic at best for the seventeen-nation currency. Services data from Europe will be watched closely today – in particular the Spanish and Italian release – along with subsequent Eurozone monthly retail sales data may have more of an impact today ahead of Thursday’s interest rate decision and following press conference from the ECB tomorrow. Call your trader now to see if the euro can find some support.