Monday was a very slow start to the week for the single currency barely moving for the entire day.
Today there is likely to be a response from the single currency however with the release of ZEW German business confidence data. This is anticipated to come out at 9.1 – much worse than previous month’s figure of 19.2. This fall will have largely been priced into the market after the shock ‘brexit’ vote damaged the single currency in the short term, as investors will be worried to see if this will begin a ‘domino effect’ from other nations within the European Union. Any real improvement from the estimated figure could end up with the euro finding some support from the data – but overall the euro is likely to struggle.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.