020 7898 0500The euro had an unexceptional end to last week after weakening consistently throughout. German Trade Balance data and German manufacturing data both came through worse than expected, which did nothing to stop the single currency slide. The euro appreciation against the US dollar came as a result of poor US data whilst little net movement was seen against sterling on Friday. Looking ahead to this week, speculation in the wake of the president of the ECB’s` statement last Wednesday and events elsewhere are likely to fuel euro movement. A number of data releases from the Eurozone may prove influential. These include French industrial production data on Tuesday and German 10 year bond yields on Wednesday. Additionally, on Thursday we have the European Central Banks monthly bulletin, which reveals the statistical data taken into account when making the decision to maintain interest rate at its current level. Call your trader now to see whether the euro will find key support levels or continue its decline.
