Currency Note Euro

Will today’s Eurozone data support the euro?

By Smart Currency October 1st, 2013

Yesterday started out as a relatively quiet day for the euro as slightly worse than expected data had little effect, before last night’s revelations in the US caused the euro to reach 1.358 against the US dollar its highest rate since February . Mondays German retail sales data came through marginally worse than expected, but the figures still detailed minor growth so the overall impact on the performance of the single currency was limited. Similarly the Consumer Price Index data that was released later in the morning, although very slightly lower than predicted, failed to cause any notable depreciation. Looking ahead to today, a variety of moderately influential data releases in conjunction with events elsewhere are likely to shape euro fortunes. Spanish and Italian manufacturing figures come out in the early morning and are followed by German and Eurozone unemployment data. Eurozone employment rates have been relatively stable over the last few months so any significant move away from last month’s 12.1% result is likely to cause notable movement. Call your trader now to see how the single currency reacts.