Currency Note Euro

Eurozone production data supports the euro

By Ricky Bean January 15th, 2014

The euro saw little in the way of decisive movement yesterday in the absence of any data of great influence. The only figures of note emanating from the eighteen-nation bloc were the monthly Industrial Production figures for the Eurozone, which indicated a 1.8% increase in the region. These were marginally better than expected, although they did not affect performance in any significant way as the euro remained largely static against the US dollar and weakened slightly against sterling. Looking ahead to today, there is once again little in the way of influential data set to be released. We can expect Trade Balance data through from the Eurozone, which indicates the difference in value between imported and exported goods and services, however effects are generally limited due to the earlier release of the same data sets for Germany and France. As always, events elsewhere and market chatter retain the potential to impact upon major euro pairings. Call your trader now to remain abreast of movements in single currency crosses.