The euro had a very positive end to last week as it strengthened across the board on Friday after a mixed few days. It reached its best level since March 2014 against sterling, and saw slow positive movements against the US dollar after seeing heavy losses following the UK’s EU Referendum result. On Friday, unemployment fell slightly for the Eurozone, moving from 10.2% down to 10.1%; a small but positive sign. Eurozone Purchasing Managers’ Index (PMI) figures were also released, slightly beating expectations, which further supported the single currency.
This week is expected to be a quieter one than the previous two but some movement in the markets will be expected. On Tuesday retail sales data is anticipated to tick up slightly from 0 up to 0.2%; apart from this there is no other tier 1 data from the Eurozone. Sterling is likely to continue to influence euro movement with new Brexit-related developments.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.