Euro steady before today’s ECB meeting

By Ricky Bean August 1st, 2013

It was yet another good day for the euro yesterday, logging slight gains against the majority of its most traded peers and its consistent strong performances shown by the euro over the past 10 days meant the euro hit 4-month highs against sterling. Yesterday’s euro strength was attributed to data showing unemployment rates across the region throughout June had fallen for the first time in two years. The single currency has taken support over recent sessions, after a string of positive data suggests that the bloc may be transitioning out of the recession it entered back in 2011. Today will no doubt be a very interesting one for the euro. The interest rate decision at 12.45pm will be closely followed by the European Central Bank’s (ECB) press conference where traders will look for clues towards future interest rate decisions, especially in light of the comments made by the President of the ECB last month where he stated that “interest rates will remain at present or lower levels….for as long as necessary.” Get in touch for news and live rates