The euro has a steady start to the week

The euro started the week in a relatively quiet fashion, although slight strengthening was seen against sterling and the US dollar due to weakness in those two currencies. Eurozone trade balance data showed a slightly lower surplus than expected, which would have had a mildly negative impact on performance. However, a Bloomberg survey revealed that whilst the majority of economists surveyed do think we will see further liquidity injections to prevent the Eurozone from experiencing deflation, they did not share the view that this would occur this year. According to the survey results, the further long-term refinancing, which would weaken the single currency, is most likely to occur in the first half of 2014. Looking ahead, this morning sees the release of German Economic Sentiment data. Results are expected to indicate continued optimism in the Eurozone’s strongest economy and large deviations from the predicted outcome are likely to inspire fluctuations in euro pairings. Call your trader now to track the performance of the seventeen-nation currency.