Currency Note Euro

Euro holding steady (for the short term?)

By Ricky Bean September 16th, 2014

Continuing on from last week, the euro remained relatively flat against the majority of its peers yesterday, closing almost aligned to the level at which it opened. The only real movement seen was against the US dollar, against which the euro rose to one-month highs, owing to dollar weakness but the euro still found itself below the 1.30 level.

It is likely that we will see the euro remain relatively range-bound against sterling this week in anticipation of the Scottish referendum results on Friday. Should we see any significant news surrounding the voting, expect markets to react. Another catalyst to euro movement today will be German economic sentiment data released this afternoon. With the German economy being the most influential of the entire European bloc, any significant data releases will be watched closely by the markets.