Currency Note Euro

Euro steady pending key data later this week

By Ricky Bean July 22nd, 2014

Little movement was seen in euro rates yesterday given the absence of any data of note. German Producer Price Index (PPI) figures came out slightly lower than expected, but this data set generally has a more limited effect than another inflation indicator, the Consumer Price Index (CPI), so its impact was negligible.

We are not likely to see any events from the Eurozone having a huge impact on the strength of the single currency ahead of Thursday’s Manufacturing and Services data from a number of states within the eighteen-nation bloc. However, sharp movements in rates remain a possibility as events elsewhere, such as in Ukraine, continue to make their mark.