020 7898 0500The euro had a mixed day on Monday as it weakened against the majority of currencies – including the US dollar – but strengthened slightly against sterling. The loss across the board was mainly seen in the afternoon after consumer confidence data was released. It fell by 0.9 points to -9.7, which caught investors by surprise, as they had expected improvement.
This morning, Purchasing Managers’ Index for the manufacturing and services industries are expected from France, Germany and the Eurozone on the whole. Today also sees the release of two key business confidence data releases. Also out are German IFO business survey data, which is forecast to also increase slightly from 105.7 up to 105.8, and ZEW German business confidence data, which is also forecast to increase from 52.3 up to 53. Given the effect of yesterday’s consumer confidence data on the euro, today could potentially spell movement for the euro, should any of the data not turn out as expected.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
