020 7898 0500The euro was another currency with a slow start on Monday, as it remained practically unchanged all day against sterling, and lost a small amount of ground against the US dollar. Most of this weakness against the US dollar was due to investors taking positions ahead of Wednesday’s Federal Reserve meeting, but in terms of any news or data there was nothing to excite the markets.
This morning inflation data in the form of Consumer Price Index (CPI) figures for France are released which are expected to move massively from -1.1% up to 0.3% – a huge step in the right direction for France, and more importantly the Euro area. An hour or so later, at 9am, CPI data will be released from Italy, and this is also expected to improve from -2.2% up to -0.4% – still in deflation overall, but clearly showing that the increase in monetary stimulus is having an impact.
If you are looking to buy or sell the euro, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
