Friday was a quieter end to the week for the euro after having a busy day on Thursday. The euro, after making significant gains against the US dollar and the pound on Thursday, was under pressure on Friday as the European Central Bank (ECB)’s most recent policy statement finally hit the single currency and it lost most the gained ground against sterling. Final Consumer Price Index (CPI) figures from Germany came out as expected. These were lower than previously, reinforcing the need for Thursday’s interest rate cut and additional quantitative easing.
This week is certainly not expected to be as busy as last, but on Thursday final Eurozone inflation figures are released. These are forecast to improve dramatically, from -1.4% up to 0.1%. Given the state of the Eurozone economy, however, this figure may not be achieved, which could affect euro markets.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.