It was a very quiet day for the euro across the board on Friday, as little data was released and markets fell quiet as Christmas week approaches.
We could see some movement in the currency markets this week, as Consumer Confidence data from the Eurozone is released – forecast to improve slightly from -6.1 up to -5.9 – overall, a disappointing figure, but a sign that the European economy is moving in the right direction. Initial Gross Domestic Product (GDP) figures for France come out today, but as this is not a major release, we can in all likelihood expect the markets to quieten down as the seasonal holidays draw near.
If you are looking to buy or sell euros, keep a close eye on the markets. A quieter period during the festive season is a good time to review your currency strategy and discuss with your trader.