Currency Note Euro

Euro sliding away

By Smart Currency August 5th, 2015

The euro was weaker against both the US dollar and sterling.

The spotlight in the Eurozone remains firmly on Greece. Athens said on Tuesday that it expects to conclude a bailout deal by August 18th, but with previous deadlines missed, this should be taken with a pinch of salt. The Greek stock market fell another 1.3% on Tuesday, after a record 16% drop on Monday.

Today we have a raft of services Purchasing Managers’ Index (PMI) data out of Europe, from Spain, Italy, France and Germany, as well as from the Eurozone as a whole. We will also see retail sales data in the morning, which is likely to worsen to a negative figure of -0.3% from a positive 0.2% last month.