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Poor start for the euro

By Callum Holmes August 23rd, 2016

The euro has a poor start to the week, losing over half a cent against sterling throughout the course of the day. This was, however, mainly due to a sterling recovery rather than euro weakness, as displayed in the lack of movement against the US dollar.

Today will see a wealth of data releases with French, German and Eurozone manufacturing Purchasing Managers’ Index (PMI) forecast at 49.1, 53.7 and 52.1 respectively, which are in line or small increases on the previous month’s figures. We will also see services PMI figures for the three, forecast respectively at 50.6, 54.3 and 53.0 – again, these are all small increases on the previous month’s figures.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.