Currency Note Euro

Euro weakness after a strong day on Tuesday

By Ricky Bean July 23rd, 2015

After a strong day on Tuesday, the euro weakened on Wednesday against sterling and the US dollar. Ahead of yesterday evening’s Greek Parliament vote, MPs had been urged to accept the reforms by their finance minister, Euclid Tsakalotos. After a marathon parliamentary session they duly did vote in favour of the reforms.

This morning we see the quarterly figure for Spanish unemployment rate released – this is expected to show a decline of 0.9%. This afternoon’s focus will be on the Consumer Confidence figure released from the Eurozone. With uncertainty still looming over Greece’s long-term future, the figure is expected to show that consumers from Eurozone countries remain pessimistic over their current and future economic state. Data suggesting otherwise could help the euro to regain some ground.