Currency Note Euro

German consumer confidence buoys the euro

By Smart Currency September 26th, 2013

The single currency experienced a reasonably positive day yesterday as German Consumer Climate data climbed to its highest point since the 2008 crash. These figures were widely expected and caused the euro to see little in the way of appreciation against sterling, however the survey of German consumers in conjunction with poorer data emanating from the USA did cause steady gains to be made against the US dollar. This morning sees the release of Eurozone Money Supply data from the European Central Bank. These figures detail the total quantity of euros in circulation and deposited at banks. A greater increase in money supply would bode well for the currency as a boost in supply is usually closely correlated with central bank interest rates. Call your trader now and see if this morning’s data can spur the euro into continuing positive movements.