Currency Note Euro

Euro stumbles, will it fall?

By Smart Currency May 27th, 2015

Following a bank holiday in the UK, the euro had no time to rest as its back was against the wall, losing out against the majority of its peers. The single currency was at a one-month low against the US dollar on Tuesday after a combination of Greece being no closer to coming to an debt repayment agreement and positive US data showing that durable goods orders rose for two months in a row now for both March and April, boosting the economic outlook for the US.

The same old theme recurs for Greece; Athens has warned that it is likely the country will be unable to make a €305 million payment to the International Monetary Fund (IMF) due on the 5th June if a deal with its lenders is not reached by then.

Today we have consumer confidence data for Germany which is forecast to have weakened very slightly. Anything different, either way, could have a significant effect given the importance of the German economy to the Eurozone and the euro.