Currency Note Euro

The euro continues to hold its own

By Ricky Bean October 30th, 2013

The euro had a mixed day yesterday, maintaining its momentum and making further gains against sterling, but losing ground against the US dollar. Those with market orders in place may have benefited from a spike in the euro – US dollar rate which saw it rise very briefly above the 1.38 mark during the afternoon before retreating throughout the rest of the day. With little in the way of data from the Eurozone yesterday, todays data should have a greater bearing on the performance of the single currency. From Germany, preliminary inflation and monthly unemployment numbers are set to be released along with Spanish quarterly GDP data. These releases are unlikely to have a high impact, but may have some influence over whether or not we see a continuation of euro strength. Call your trader now to keep pace with market movements.