The euro continued its disappointing start to the week on Tuesday, losing significant ground against the US dollar and remaining on a downwards path against sterling. The only Eurozone data of note was much better than forecast ZEW German business confidence data, which came out at 19.2 compared to the expected 4.7 – but this positivity was overlooked as the markets were driven by sentiment as Thursday approaches.
Consumer confidence for the Eurozone will be released at 3pm today, and this is expected to remain at -7 – so any movement from this could cause some upset in the market. Of course, tomorrow’s EU referendum will remain the focus for the week.
Euro exchange rates are moving fairly quickly so best get a detailed update soonest from your trader by giving them a call.