Yesterday the euro took a hit against sterling as the expected rate cut from the Bank of England (BoE) never materialised, to much surprise. Over the week sterling has gained over 3 cents against the euro – the best few days for sterling since the 23rd.
Today there is Eurozone Consumer Price Index (CPI) data released in the morning. An indicator of inflation, this could have a significant effect on the euro. The month-on-month data is expected to come out worse than last months, while year-on-year data is expected to go out of the red, reaching 0.1%, having previously been at -0.1%. Any surprises – particularly the yearly data failing to reach a positive number – could affect euro markets.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.