Currency Note Euro

Potential movement in euro markets today

By Michael Cooper May 23rd, 2016

Friday was a mixed day for the euro as it remained flat throughout the day against the US dollar but it erased a fair proportion of the losses seen against sterling as investors were looking to profit from the movements and close their positions before the weekend.

This week is likely to get off to a highly volatile start with Monday seeing the release of key data. Firstly, we have flash Purchasing Managers’ Index (PMI) data from the Eurozone, which is anticipated to increase slightly, from 53 up to 53.2. Consumer confidence is also released, which is expected to improve from -9.3 up to -9, which is still a dismal figure. Any deviations from these expectations could affect the euro’s performance.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.