Currency Note Euro

Will today’s Eurozone data undermine the euro?

By Smart Currency November 27th, 2013

The euro continued its start the week in an uneventful fashion with much less movement than in the week previous. Once again, the lack of Eurozone data and absence of influential market rumours meant that euro stimuli were weak. The movements that were experienced in euro pairings came largely as a result of events elsewhere as we saw the seventeen-nation currency trade within a narrow range against sterling but strengthen against the US dollar on the release of poor US data. The seventeen-nation currency also plateaued against the Japanese Yen after reaching a 4-year high over the weekend. Today we will see an increase in data releases as the German Consumer Climate figures and 10-year bond yields are released this morning. Call your trader now to plan for future fluctuations in euro pairings.