Private DCN Private DCN - Euro

Confidence in the Eurozone?

By Michael Cooper July 27th, 2016

Yesterday was another quiet day for the euro, with National Bank of Belgium Business Climate data released at 108.3, down from the previous figure of 108.7. This is only a slight knock for the EU economy. We also saw Spanish Producer Price Index (PPI) data released, better than expected at -4.7% compared to a previous figure of -5.6%. However, a negative reading is still seen as bearish for the currency and generated some euro weakness against its rivals.

Today we have a number of Eurozone countries measuring their level of business and consumer confidence. General consensus suggests a slightly negative reading across the board, which could be seen as undermining the euro. However, the focus is still very much with sterling and today’s growth figures, so any strength or weakness seen in the euro is likely to remain a function of UK monetary policy for the foreseeable future.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.