This week saw little data released from Eurozone this week; that being said, we still experienced significant movement for the euro as data released elsewhere influenced the market.
The euro had a strong week against sterling, hitting a fresh one-month high yesterday (less than 0.5% away from the post-Brexit peak) before losing ground towards the end the day. The euro however, had mixed fortunes against the US dollar, losing some ground yesterday following some positive data releases from the US.
This morning will see the release of German preliminary growth data, which is forecast to fall to 0.3% from last month’s 0.7%. We also have flash growth data from the Eurozone, which is expected to remain unchanged at 0.3%. With these being the only significant data releases from the Eurozone this week, anything below expectations could well scrub off the gains the euro has made throughout the week.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.