Currency Note Euro

Euro under pressure, will this week’s data bring support?

By Smart Currency February 17th, 2014

Some mildly better-than-expected data from the Eurozone on Friday morning helped the single currency see some appreciation against its peers, although movements were generally more limited than those we saw on Thursday. The euro made slight gains against the US dollar and Japanese Yen, but lost some ground against a strong sterling. French Preliminary Non-Farm Payrolls were marginally better than expected, showing a slight increase in the number of employed persons outside of the farming sector. Additionally, German and French preliminary GDP data sets helped to improve performance with positive outcomes of 0.4% and 0.3% respectively.

The first influential figures through this week are set to be German Economic Sentiment figures, due on Tuesday. On Thursday, German and French flash Manufacturing Purchasing Managers’ Index figures, which have been mixed of late, are set to be released and are likely to cause some fluctuations in euro pairings. The week’s Eurozone key data will be rounded off when the European Commission publishes its EU Economic Forecasts on Friday.

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