020 7898 0500The euro had a positive day overall, apart from against sterling, where it lost ground during the day. Most of the movement seemed to be based on sentiment rather than data driven, as the initial shock of the referendum appears to slowly being reversed from the markets.
Consumer confidence data from the euro area came out as expected, at -7.3, which was a drop from last month’s figure of -7. Preliminary Consumer Price Index data from Germany was right on the predicted figure too, at 0.3%.
Today, Unemployment data due to be released by Germany is anticipated to remain at 6.1%; any deviation from this could create some movement for the euro. Flash Consumer Price Index from the Eurozone is expected to be announced at a figure of 0%, up slightly from -0.1%. This is a key difference, as any rise would shift the single currency out of deflation.
If you are planning to buy or sell euros in this uncertain environment, we suggest contacting your trader now for live rates, news and to discuss currency purchasing strategies.
