Currency Note Euro

Euro has a steady day

By Smart Currency September 25th, 2013

Yesterday was a quieter day for the seventeen-nation currency as the euro traded within a narrow range against its major trading partners. German Business Confidence data – which is compiled by surveying business leaders across the Eurozone’s largest economy and is a leading indicator of economic health – came through slightly weaker than expected, but still represented an increase on the previous month and in fact showed figures are at their highest level since April 2012. As a result the single currency showed little net movement over the day against sterling and the US dollar despite some small fluctuations. Today further German data is likely to have a bearing on euro performance. Consumer Climate data, whilst being slightly less influential than Business Climate data in general, is closely correlated to the level of consumer spending, which is a key component of economic health. Call your trader now to see what impact the figures have on the performance of the single currency throughout the day.