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Slow day for the euro

By Michael Cooper July 5th, 2016

The euro has had a slow start to the week on Monday as it saw a brief and small dip in the late morning; although this was corrected as the day went on. With no data or any significant news from the Eurozone, the markets remained consistently flat throughout the day.

Today may well be different however, with Purchasing Managers Index (PMI) figures out at 9am and expected to drop down from May’s result from 53.1 down to 52.8. An hour later at 10am retail sales data is anticipated to tick up slightly from 1.4% to 1.7%. PMI data is considered the more important of the two but the figures combined may well create some movement early on.

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