Currency Note Euro

Euro holds its own

By Ricky Bean December 17th, 2013

The euro made a tentative start to the week yesterday as mixed manufacturing data failed to inspire notable movement in the euro. French Manufacturing figures showed greater contraction than expected as did French Services figures, however German Manufacturing data revealed more growth than expected as the Eurozone’s largest economy continues to lead the Eurozone recovery. European Central Bank (ECB) President Mario Draghi made another address yesterday as the Eurozone looks to move closer to a banking union, but his words failed to have any real effect on the performance of the single currency yesterday. Looking ahead to today, German Economic Sentiment data is set to be released mid-morning along with Consumer Price Index data for the Eurozone. These latter figures are a key indicator of levels of consumer inflation and may cause some volatility. Call your trader now to stay abreast of developments.