Currency Note Euro

The euro stays out of the firing line

By Ricky Bean March 17th, 2016

The euro had a quiet day on Wednesday, remaining relatively stable against both sterling and the US dollar until late in the day making significant gains against the US dollar. With no data expected from the Eurozone, investors were expecting news from both the UK and the US to have an impact on the single currency. The euro did manage to strengthen slightly against sterling after George Osborne announced during the Budget that the UK would be cutting its growth forecasts.

This morning, final consumer price index from the Eurozone are forecast to be released much higher than last month’s figure moving up from -1.4% up to 0.1%. This will continue to be an important figure, and it is expected to improve after the recent plans to increase the current quantitative easing package from €60 billion a month up to €80 billion.

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