020 7898 0500It was another disappointing day for the euro on Tuesday as it lost ground against the majority of currencies. There was one piece of data released from the Eurozone – harmonised consumer price index figures from Germany, which came out at the expected -0.1%; this was slightly up on the previous month’s figure of -0.2%, and a small step in the right direction. The euro did weaken against sterling despite this more positive news, thanks to positive inflation data from the UK.
The euro also fell against its largest trading partner, the US dollar, yesterday morning, but was able to recoup most of these losses by the afternoon.
Today more Consumer Price Index data was released earlier this morning, this time for France, and these figures were anticipated to show a healthy increase from 0.3% up to 0.7%. It may well not be all good news however, as later on industrial production data from the Eurozone is forecast to fall sharply from 2.1% down to -0.7%.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
