Currency Note Euro

Is the euro poised for another disappointing week?

By Ricky Bean November 16th, 2015

The euro had a poor day to end another disappointing week against sterling and the US dollar, as discouraging Eurozone third quarter growth data had a negative effect on the single currency. Data earlier on Friday morning showed that Eurozone growth figures had ticked up slightly to 0.3% in the third quarter, but crucially missed expectations for a 0.4% gain. French and German growth figures were as forecast, so these had very little impact on the euro market.

Because of Fridays shocking events in Paris on Friday evening, the euro may get off to a rocky start this week. Eurozone inflation data out at 10am; this is forecast to fall slightly from 0.2% to 0.1%. Consumer confidence data from Europe towards the end of the week could also be a key release. It is forecast to improve slightly from -7.7 to -7.5 – this would be a steady improvement for the European economy. However, worse-than-expected data could lower investor confidence in the economy, and deal a blow to the euro.