Currency Note Euro

Euro has a good day

By Ricky Bean May 14th, 2015

Yesterday the euro moved to the highest point seen in a week against the weakening US dollar but this was largely due to disappointing US economic reports, which were added to concerns over the outlook for the second quarter growth after a small slowdown in the first quarter. Eurozone data on Wednesday showed that the economy grew 0.4% in the first quarter of 2015, just behind the growth expectations of 0.5%, but this was the fastest rate we’ve seen in four years. Germany’s economy, Europe’s largest, grew 0.3% in the first quarter, slowing from 0.7% in the previous quarter.

There is very little happening in terms of data for the rest of the week, so the single currency will have to wait until next week in terms of data releases. In the meantime, currency markets will focus elsewhere for factors that could contribute to euro movement, such as the UK and US plus the on-going negotiations with Greece over their debt.