Good news for euro sellers

mar bonnin palmer

Euro Takes a Step Forward

Despite yesterday’s unexpectedly weak German consumer price inflation report, the Euro moved higher against the US Dollar after tracking mixed US economic data. The dismal German inflation numbers shifted market focus towards the Euro zone inflation report today. Good news for euro sellers! Inflationary pressures in the region further subsided for February and it now looks increasingly unlikely that we will see negative interest rates in any way, shape or form.

However, ECB President Mario Draghi did state that although inflation continues to remain low, the Euro zone is not in deflation at present and that the central bank will monitor inflation and act if necessary. He would say that though; the truth is that the euro is looking more stabilised and buyers should think about acting now while levels remain attractive

Later on today, investors will be keeping a tab on Euro zone labour market numbers and US macro releases for further direction.

Currency Exchange Rates
Currency Exchange Rates Last Week Currency Exchange Rates This Week
(GBP/EUR – 1.2136) GBP/EUR – 1.2197
(GBP/USD – 1.6636) GBP/USD – 1.6724
(EUR/GBP – 0.8237) EUR/GBP – 0.8197
(EUR/USD – 1.3707) EUR/USD – 1.3710
(GBP/AED – 6.1104) GBP/AED – 6.1402
(GBP/AUD – 1.8480) GBP/AUD – 1.8652
(GBP/CAD – 1.8576) GBP/CAD – 1.8605
(GBP/CHF – 1.4812) GBP/CHF – 1.4830
(GBP/HKD – 12.905) GBP/HKD – 12.980
(GBP/INR – 103.35) GBP/INR – 103.80
(GBP/JPY – 170.39) GBP/JPY – 170.07
(GBP/NZD – 2.0041) GBP/NZD – 1.9870
(GBP/SEK – 10.914) GBP/SEK – 10.797
(GBP/ZAR – 18.356) GBP/ZAR – 17.837

Key Economic Events

UK Lloyds Business Barometer
US Initial Jobless Claims
US Durable Goods Orders
US Fed's Yellen Testifies to Senate on Monetary Policy
Eurozone Business Climate Indicator
Eurozone Consumer Confidence
Spain Gross Domestic Product
Germany Unemployment Change
Germany Consumer Price Index
Switzerland Employment Level
Switzerland Gross Domestic Product

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