The euro had a relatively quiet day on Monday. Consumer price index figures came out at -10.9, slightly better than the forecast of -11 and significantly better than last month at -11.6. This was a small but positive step for the euro, gaining slightly across the board.
This morning at 7.45 we saw French growth data come out at 0.3% as expected, whilst consumer spending came in short at 0.4% when a reading of 0.5% had been anticipated. These two figures are likely to be the last pieces of market data that are likely to have an effect on the euro before Christmas.
The main story today will be the Greek Presidential elections. Greece will run its second ballot of three to try and elect a president and a failure to do so will spark fears that parliament could be dissolved, general elections would be called and in theory we could be heading for a Greek exit which would cause significant euro weakness..
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