Friday saw the euro lose over a cent against the US dollar following Janet Yellen’s speech at the Jackson Hole Symposium where sentiment over an impending rate rise drove US dollar strength. Against sterling, the euro remained largely unaffected.
On Tuesday, the Eurozone has a number of lower impact data releases due, including the German preliminary Consumer Price Index (CPI) forecast at 0.1% and Spanish flash CPI forecast at -0.5%. Wednesday’s data releases could drive greater market volatility with German retail sales and unemployment data (both anticipated to improve on the previous months figure) and European flash and core CPI figures (forecast to be unchanged from last month). Finally, on Friday morning Spanish unemployment change will be released, which is forecast to show a 15,000 increase in the number of people unemployed.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.