Currency Note Euro

Eurozone data disappoints but the euro holds on

By Ricky Bean February 21st, 2014

Euro movements were relatively limited during the earlier parts of the week despite German Economic Sentiment data coming through markedly worse than expected on Tuesday. Poor economic data from France and Germany contributed to the single currency performing poorly against major peers yesterday, with manufacturing figures from both states worse than expected, as was Services data from France. These figures are important indicators of how well Eurozone nations are recovering and as such caused the euro to weaken against sterling, albeit briefly, and the US dollar.

There is little due out in the way of influential news today, although the G20 talks over the weekend have the potential to play a role in how the euro is traded, given the profile of the event and nature of discussions.

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