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Euro disappoints except against sterling

By Ricky Bean July 1st, 2016

The euro had a slightly disappointing day on the whole yesterday, apart from against sterling where the single currency saw significant gains. The euro only gained against sterling as the Bank of England (BoE) Governor, Mark Carney, mentioned that loosening of monetary policy might well be on the cards following the referendum vote.

The euro struggled after this against its major pairs as the European Central Bank (ECB) may take a similar stance to counter an expected slowdown for the European economy. Flash Consumer Price Index (CPI) figures did slightly beat expectations at 0.1% following last month’s -0.1%, seeing the Eurozone out of a deflationary period.

This afternoon we have unemployment figures from the Eurozone. These are anticipated to show a slight drop from 10.2% to 10.1%; in the past 12 months unemployment has slowly been dropping, a positive sign for the economy.

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