The Eurozone has seen a number of less significant data releases so far this week. Key pieces include disappointing business sentiment and worse-than-expected inflation data in Germany on Tuesday, followed by mixed data on Wednesday and Thursday.
The mixed nature of this week’s data releases, as well as the lack of any significant data, has meant the euro has remained relatively stable against the US dollar, keeping within the 1.1125 and 1.12 range. However, the Eurozone currency has weakened against Sterling over the same period, losing over a cent as the week progressed and especially after after strong manufacturing Purchasing Managers’ Index (PMI) data was released in the UK on Thursday.
Today is a quiet day in terms of data releases for the euro, with only the EU’s Industrial Producer Price Index (PPI) figures being released. This means that any euro movements are likely to be because of events elsewhere, namely key data releases in the UK and the US, as well as continuing Brexit sentiment.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.