Currency Note Euro

How will the euro wrap up a mixed week?

By Ricky Bean August 7th, 2015

The euro’s mixed week against sterling and the euro was tempered by a positive day on Thursday. Forces outside of the Eurozone largely guided euro strength, with results of the Bank of England (BoE)’s Super Thursday upsetting expectations, with only one out of nine Monetary Policy Committee members voting for an interest rate hike, when two votes were expected.
The single currency also moved up throughout the day against the US dollar due to slightly disappointing unemployment figures from the US. As ever with Greece, the ongoing uncertainties regarding Greece’s attempt to secure debt restructuring in a third bailout deal has slowed the euro’s progression and continues to undermine the euro.

To wrap up the week, this morning we have industrial production data from Germany and France – the data from Germany is expected to increase and France’s to fall. Otherwise, it will be a fairly quiet day in terms of data from the Eurozone, and it may be up to events elsewhere to influence the euro’s performance today.