Currency Note Euro

Euro hit hard by economic sentiment

By Ricky Bean November 17th, 2015

The euro had a poor start to the week on Monday, remaining in a weak position against both sterling and the US dollar – and falling to a six month low against the Japanese yen. The terror attacks in Paris resulted in a hit on risk sentiment for the single currency – a regular result of unexpected attacks, as demand for safe haven assets are boosted.

European Central Bank (ECB) president Mario Draghi spoke in Madrid but this had limited impact on the euro, along with the release of Consumer Price Index (CPI) data, which came out as forecast at 0.1%.

Today may be a more positive day however; ZEW German business confidence data is forecast to improve slightly, up from 55.2 to 55.5. Other than this investors will be likely to be looking at other markets.