Currency Note Euro

Pressure mounts on euro

By Ricky Bean October 28th, 2015

Tuesday was a fairly quiet day for the euro as it was largely affected by news from elsewhere rather than any significant news from the Eurozone economy itself. The single currency strengthened slightly against sterling, but weakened against the US dollar.

This morning consumer confidence data from both France and Germany is released. This was forecast to drop in Germany from 9.6 to 9.4 whilst in France it is expected to remain at 9.7. Any variance on this could see an impact on the euro. With investors concerned about the quantitative easing increase likely to be announced in December, any negative sentiments arising from poor data could help to increase pressure on the euro as it increases the likelihood of increased quantitative easing.