020 7898 0500The euro has had another positive week, reaching the highest point against the US dollar in seven weeks and pushing towards 15-month highs against sterling on Thursday. The movement on Thursday was seen after data showed that the annual rate of inflation for the Eurozone fell again in March, but most importantly at a slower pace than in the previous month. Core inflation – which excludes food and energy prices – actually rose to 1%, up from 0.8% in February. Overall, this week has been another positive week for the single currency as it continues to strengthen across the board.
Today we have the release of the manufacturing purchasing managers index from the Eurozone, which is expected to increase slightly from 51.2 up to 51.4. Unemployment figures will also be released at 10am, but this is forecast to remain at February’s figure of 10.3%. Non-farm payrolls in the US often has an effect on the euro market as it is the most regularly traded currency with the US dollar, so we should expect a busy day for the single currency.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
