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Busier day for euro today?

By Callum Holmes June 29th, 2016

The euro had a quieter day as markets began to settle following the turbulent end to the week last Friday. With no further progress made on how the UK might leave the EU and no significant data released in the Eurozone, the single currency closed the day in a very similar position as to how it opened against both the US dollar and sterling.

The European Parliament was in session today and it was a heated affair. European Commission President Jean-Claude Juncker said that the UK government should ‘clarify’ its position, which in turn would be likely to settle the markets.

Today, consumer confidence data is out later this morning at 10am – this is anticipated to fall slightly from -7 to -7.3. This is a disappointing reversal as this figure has been improving since the start of the year. In the afternoon Consumer Price Index (CPI) data from Germany is forecast to tick up from 0.1 up to 0.3 – a step in the right direction for the euro’s biggest economy.

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