Euro exchange rates lost a little ground against most majors yesterday, most likely down to the tariff’s on trade being suggested by Donald Trump which may impact European exports and the uncertainty surrounding the Italian election.
The rest of the week is very busy for European data and other data around the globe which may also impact Euro exchange rates too. Tomorrow brings key growth figures which will show how the Eurozone economy performed in quarter 4 of 2017.
Thursday is more likely the most important and most volatile day of the week for Euro exchange rates, as we have the ECB (European Central Bank) interest rate decision and press conference held by head of the ECB Mario Draghi.
No major changes to interest rates are expected but what will be key is the press conference shortly after the decision. investors and speculators alike will hang off of Draghi’s every word looking for the next hint on his future plans for fiscal policy and the Euro can get rather volatile during his press conference depending on what he says.
On Friday we have the release of non-farm payroll data in the U.S which can also have a direct impact on the value of the Euro, as EUR/USD is the most traded currency pairing in the world you can tend to find that positive data for the U.S can cause money to flow out of the Euro into the Dollar, making the Euro weaker and cheaper to buy, the opposite can be said for negative data from the States.
This release also impacts global attitude to risk so really is one to keep a keen eye on, it is expected to come out at 13:30pm GMT and will more than likely set the scene for Euro performance as we head to the end of the trading week.
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