Currency Note Euro

Steady week for the euro

By Smart Currency May 6th, 2016

The euro has been fairly flat this week. It strengthened slightly against sterling before weakening later on in the week, and remaining practically unchanged against the US dollar, until some strength was seen on Thursday. The main news was the news from the European commission on Tuesday that stated that economic growth is likely to be slower than anticipated this year, with inflation also remaining subdued. The Eurozone is now expected to expand 1.6% in 2016, in comparison to the previous figure of 1.7% stated in February. All other data came out as anticipated, meaning the euro only saw limited movements this week.

US non-farm payrolls data, released at 1.30pm, will have the biggest effect on the single currency today; otherwise another slow day is anticipated.

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