Despite the positive Eurozone news which has emerged this week, including a report which showed that the currency-bloc had finally returned to growth, the common currency is heading for 5-day declines against both the Pound and US Dollar.
The Euro to Pound Sterling Exchange Rate is currently trading in the region of 0.8529 as of 10:45 GMT
With Sterling bullish in the wake of several pieces of better-than-anticipated data for the UK, including yesterday’s retail sales report, the Euro has been outpaced by its British cousin.
Although no pertinent UK data has been released today, the Pound has largely retained yesterday’s gains and is expected to post a weekly advance of 0.8 per cent against the Euro.
The common currency put in a mixed performance against its peers following the release of the Eurozone’s CPI for July, dipping against the Yen and Pound and experiencing little movement against the US Dollar and Swiss Franc.
The core consumer price index came in at 1.1 per cent year-on-year as expected. The 0.5 per cent monthly decline was also in line with estimates.
The Euro to Pound Sterling (EUR/GBP) exchange rate hit a low of 0.8516 pence per Euro
Meanwhile, the Euro was also little effected by a report showing that the Eurozone recorded a trade surplus of 16.9 billion Euros in June. The surplus was slightly offset by a current transfer deficit of 10.1 billion Euros.
With economists forecasting that today’s US housing starts and consumer confidence data will show improvement, the EUR/USD pairing could see additional losses before the weekend.
Next week key pieces of Eurozone data to watch out for include manufacturing/services PMI and consumer confidence figures for August.
Current Euro (EUR) Exchange Rates
< Lower > Higher
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3337 <
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8529 <
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4562 <
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6507 <
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7499 >
The Pound Sterling /Euro Exchange Rate is currently in the region of: 1.1725 >
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6873 >
The New Zealand Dollar/Euro Exchange Rate is currently in the region of: 0.6061 >
(Correct as of 10:45 GMT)
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