Currency Note Euro

Important ECB meeting this week has the power to move the euro

By Ricky Bean December 1st, 2014

Friday saw the euro trade in a similar vein to what we saw throughout the week, with very little to shout about. Inflation figures from across the bloc released in the morning had the potential to cause some movement in currency markets, but the result came in line with forecast at 0.3%; as a result, markets were largely unchanged.

Looking forward to this week, the focus will mainly be on Purchasing Managers’ Index (PMI) industry health figures for both manufacturing and services. Released across today and tomorrow, the figures indicate industry expansion or contraction and are closely watched by the markets. Later in the week will be the interest rate decision by the European Central Bank, which will most likely be held at 0.05%. As ever the post meeting press conference and announcements will be closely monitored and any surprises would likely cause movement in euro markets.