020 7898 0500After seven days of considerable depreciation against major trading partners, the euro made a much more positive start to this week. The single currency made ground against the US dollar throughout the day and made reasonable gains against sterling during the afternoon. The burst of euro appreciation against its major peers was spurred on by surprisingly positive Eurozone sentiment data being released in the morning. The survey of investors showed optimism for the first time in over two years and surpassed mainstream predictions. After a string of negative data, this was what was needed to provoke some movement in the opposite direction. It is yet to be seen whether yesterday’s movements represent a change of momentum or merely a blip amidst the on-going decline of the seventeen-nation currency. Today, French monthly Industrial Production data will help to steer market movements and investor speculation may cause a degree of volatility as we wait until later on in the week for more influential Eurozone data. Call your trader now to track euro performance and access a live rate.
