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November 2015

Euro remains on the back foot

Published: Monday 16 November 2015

 The Euro remains on the back foot this afternoon after the terror attacks in Paris. The GBPEUR rate is creeping above 1.4150 and the Euro remains weak against the Dollar.

Eurozone CPI figures were marginally better than expected this morning while the US Empire State manufacturing slightly disappoints. However these did not really move the market as traders are waiting for the Central Bank’s response and the view from the ECB on expanding QE.

Tomorrow is a very significant day – there is a raft of CPI data from the UK and the States as well as minutes from the RBA’s most recent meeting and German consumer sentiment data. We should expect to see a fair amount of volatility tomorrow all day.