020 7898 0500The Euro made gains against both the US dollar and sterling yesterday off the back of positive Eurozone consumer confidence data. German Consumer Price Index (CPI) data also came in at a better-than-expected 0.4%, up on the previous figure of 0.3%. However, prevailing sterling weakness may also be down to anticipation of the Bank of England (BoE) meeting next week, with traders and analysts predicting putting the chances of an interest rate cut at 100%. Whether this will come to pass remains to be seen.
Today the economic calendar is awash with Eurozone data that should provide a strong impetus for the markets. Highlights include growth data from France, Austria and Spain, as well as a preliminary Eurozone growth figure due. We also expect CPI data from France, Spain and Italy. European Banking Authority (EBA) Bank Stress Test results are also due in the evening.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
