It was a fairly positive day for the single currency on Monday, as European Consumer Confidence data came out better than in the previous month, moving up from -6.1 to -5.7. This is still a negative figure, but there has been a welcome improvement in the European economy over the last few months.
The euro also hit its highest level against sterling since October, a movement that was down to both sterling weakness and euro strength, which is why we have seen a gradual but consistent strengthening for the single currency over the last few weeks.
This morning, Consumer Confidence data from Germany will be released, but it is not expected to be a major announcement; and the rest of the week is looking quiet for the euro, so we expect the market to quieten down as the week draws to an end.
If you need to buy or sell euros, contact your trader for the latest rates and market news, and to discuss an appropriate currency buying strategy.