Currency Note Euro

Euro holds steady on better than expected data

By Ricky Bean January 13th, 2014

The euro ended the week on a strong note as French Industrial Production data came out better than expected and investor confidence in the eighteen-nation bloc continued to improve. Friday saw the single currency strengthen sharply against sterling and the US dollar. Looking ahead to this week, the German Constitutional Court is due to deliver its ruling on Friday concerning the legality of The European Central Bank’s (ECB) Outright Monetary Transactions policy. ECB President Mario Draghi’s bailout plan would be unworkable if Europe’s largest economy deems it unlawful. Ahead of this, Eurozone Industrial Production data for November is due out on Tuesday and could have a bearing on performance as it is expected to show improving growth. On Thursday the first ECB monthly bulletin of 2014 will be released as well as Consumer Price Index data for December, which had a notable impact last month. Call your trader now to stay abreast of developments.