Currency Note Euro

Euro holding on

By Ricky Bean April 27th, 2015

Despite the on-going Greek debt problem, the euro had a reasonable week last week and even gained ground against the US dollar. The IFO German business sentiment data released on Friday was optimistic helping the currency’s positive trend.

This week should be an interesting one; the majority of the European market are certainly keeping a close eye on Greece, whether its current bailout crisis is under control or an exit from the euro is likely. The situation remains on-going and uncertain, so if Greek bailout talks should take a dramatic turn for the worse over the coming weeks the euro can expect to pay with a heavy fall.

On Thursday we have Eurozone inflation and employment data with the unemployment rate expected to show a slight reduction to 11.2%.