Currency Note Euro

Poor data doesn’t undermine the euro

By Smart Currency October 28th, 2013

The euro had an impressive morning on Friday, posting gains against a basket of currencies, most notably a high not seen since November 2011 against the US dollar. These gains were short lived as the euro gave back some of these gains as German business confidence for October unexpectedly fell. This may suggest the euro’s recent resurgence is not down to its own strength and its performance could falter in the coming weeks. The euro has some important data releases in the coming week. German employment figures on Wednesday with the overall rate of unemployment in Europe released on Thursday. We also have Spanish GDP figures, German retail sales figures and inflation data released this week. Speak to your trader now to see if the euro can continue on its current run of form.