Currency Note Euro

Wednesday is a busy day for Eurozone data

By Ricky Bean January 8th, 2014

The euro once again failed to see significant movements against its major peers yesterday as data releases were of mixed fortunes. German unemployment data was better than expected and revealed a reduction of 15,000 in the number of people not in employment. This positive influence was counterbalanced by the slightly lower-than-expected Eurozone Consumer Price Index data which showed that whilst confidence is justifiably building in Europe’s largest economy, the Eurozone as a whole is not out of the woods yet as regards the possibility of deflation and further interest rate cuts. Further data from Germany today in the form of the Trade Balance and monthly Factory Orders figures, both of which have relatively strong links to single currency strength. Additionally, monthly retails sales and unemployment data sets are expected for the eighteen-nation bloc as a whole. Call your trader now to see if any of these releases impact upon euro pairings today.