Currency Note Euro

Euro on the rise thanks to data from elsewhere

By Ricky Bean August 20th, 2015

For the third straight day, little happened for the euro on Wednesday – although it was able to strengthen slightly against both sterling and the US dollar thanks to positive news from the German parliament vote for a third Greek bailout.

One the world’s major ratings agency, Fitch, also upgraded its credit rating of Greece to CCC, following the completion of last week’s bailout. The gains against the US dollar was also down to factors elsewhere, as the US markets became nervous around the FED meeting minutes last night.

Earlier this morning, Producer Price Index data from Germany was released; this was forecast to remain at the same as last month’s figure of -0.1%. Other than this, we will have to wait until tomorrow for further data.