Currency Note Euro

Eurozone data disappoints but the euro maintains recent gains

By Ricky Bean March 18th, 2014

Following a week in which it hit a two-and-a-half year high against the dollar, the euro continued to outperform the currencies of its major trade partners. Inflation data was released from the Eurozone today, which although disappointing did not have a great impact on the markets as an estimate of this was released earlier in the month. As potential market movements due to the referendum in Crimea was priced into the markets last week, recent related events have not had much impact on the euro. Therefore, the single currency was able to maintain its strong position in the absence of any major data releases.

Today sees the results of a survey of German investors’ confidence in the economic outlook of Germany and the Eurozone as a whole. With no other major data releases form the Eurozone, Building Permits and inflation data from the US may also influence the euro markets.

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