Euro Exchange Rate News Index

 

The euro (Currency:EUR) faces an interesting day today as focus shifts back across the Atlantic to the Eurozone. The latest spot exchange rates shows the EUR has made some good progress against the Australian dollar overnight.

The euro dollar exchange rate is 0.08 pct down at 1.2853.
The euro pound exchange rate is flat at 0.8546.
The euro Australian dollar exchange rate is 0.66 pct higher at 1.3345.

(It is important to keep in mind that the above quotes are taken from the wholesale markets, your bank will affix their own discretionary spread. However, an independent provider will guarantee to undercut your bank's offer, thus delivering you more currency. Please find out more here.)

The outlook for Thursday is to be dominated by fresh economic data. Lloyds Bank Research, in a morning currency strategy note, say:  

"The main focus today will be the flash PMI estimates from the Eurozone. There was little change in the April indices but the German numbers surprised largely on the downside.

"The market is again broadly expecting little change on last month but expect small gains in the German PMIs.

"However, the German ZEW survey released earlier this month printed slight declines suggesting possible downside risks to today’s release.

"The EUR/USD tone for today will probably depend on the PMIs but should hold within the recent 1.28-1.30 range."

Trading Central say EUR/USD is under pressure in the short term: "Short positions at 1.2865 with targets at 1.279 & 1.2745. The pair is posting a rebound but stands below its new resistance as the RSI is reversing down."

Regarding EUR/GBP, analysts say they are bullish: "Long positions above 0.853 with 0.859 & 0.86 as next targets. The pair is facing a pull back and is challenging its support."