Currency Note Euro

Euro maintains downward trajectory against sterling

By Smart Currency December 3rd, 2013

The euro traded within a relatively narrow range yesterday in the absence of any key releases. Spanish Purchasing Managers’ Index data was weaker than expected, showing contraction rather than growth in the struggling nation. Italian manufacturing figures however, came out as expected and showed moderate growth in the sector. The single currency did lose some ground against sterling early on, but regained some of this lost ground during the course of the day. The most influential data coming out today is likely to be Spanish unemployment figures, due this morning. An increase in numbers of jobless claims is expected, but the extent of the increase could determine how the seventeen-nation currency performs today. Call your trader now to see how euro pairings are being affected.