Euro struggles as recovery is at best slow

The euro had a mixed end to the week, depreciating further against sterling – notably reaching its weakest point since January. The single currency experienced some volatility against the US dollar although made little net movement given the dollar’s continuing weakness towards the end of the week. The Eurogroup meetings did not provide any discussion which had a notable effect on euro performance and fluctuations occurred largely as a result of events elsewhere. Looking ahead to this week German Economic Sentiment data is expected on Tuesday and may drive euro movement. After positive Eurozone sentiment data improved fortunes last week, German data has the potential to either further or reverse this effect. The Eurozone also awaits consumer inflation data and current account balance figures, due on Monday and Tuesday respectively. Both have scope to affect performance but all in all the week is relatively sparse as regards influential figures. Call your trader now to see how the single currency fares in the week ahead.