Euro rate movements were very limited yesterday, with impetus for rate changes coming from elsewhere. German Trade Balance data revealed slightly less export demand than was expected from the Eurozone’s largest economy, but the effect of this was not noticeable on the euro overall.
Today sees the release of French Industrial Production data in the morning. Industrial Production data can have a considerable effect on the performance of a currency as seen earlier this week when sterling appreciated against a number of major currencies following the release of better than expected data. This will be followed by the European Central Bank (ECB)’s Monthly Bulletin, which reveals the statistics that the ECB took into account when making their most recent interest rate decision, and provides general information on the economic outlook of the eighteen-nation bloc. The threat of deflation, whilst having lost its immediacy, remains in the mind of investors and as speculation continues the sentiment espoused by the bulletin may have a bearing on the performance of the euro throughout today.
Looking to buy or sell euros? Contact your trader now for live rates, news and currency-purchasing strategies.