Currency Note Euro

Euro pushes higher against a weakened US dollar

By Smart Currency October 7th, 2015

The euro pushed higher on Tuesday, marginally against sterling and more significantly against a weakened US dollar, thanks to further expectations that a US interest rate hike was likely to be pushed back by the Federal Reserve. Earlier on Tuesday morning, data showed that German factory orders fell unexpectedly in August, and this added to concerns that slowing global growth is starting to affect the European economy – which ensured the single currency remained fairly flat against sterling.

Another early release for Germany this morning with Industrial production data released; this was forecast to fall from 0.7% down to 0.2%. Trade balance from France was also out early this morning but this is not expected to have much effect on the market.