Our Daily Brief provides insights into the news and views driving today’s foreign currency exchange rates.
The Euro traded in narrow ranges during the European session on Tuesday with resistance on approach to the 1.0600 area and little in the way of fresh Euro-zone developments as concerns surrounding the French Presidential election eased slightly.
The latest Euro-zone money supply growth data was in line with consensus expectations as growth slowed slightly to 4.9% from 5.0% previously while private loan growth was slightly stronger for the month at 2.2% from 2.0% previously. Euro-zone economic confidence edged higher for February to the highest level since 2011 which underpinned growth hopes. […]
ECB minutes from January’s meeting confirmed that the central bank would look through increases in inflation triggered solely by a surge in energy prices and would concentrate on whether there was any evidence of second-round inflation effects. The ECB expected that overall inflation pressures would remain muted despite an important element of uncertainty surrounding […]
Euro-zone GDP growth was revised down to 0.4% in the updated flash Q4 reading from the provisional 0.5% which will tend to dampen expectations that the Euro-zone economy is gaining momentum. There was also a weaker than expected reading for the German ZEW investor sentiment index, although the overall market impact was limited.
The EU Commission revised its 2017 Euro-zone GDP growth forecast marginally higher to 1.6% from 1.5% previously, although this was still lower than the 2016 outcome and the underlying tone remained generally downbeat with a high degree of uncertainty over both domestic and US developments. The inflation forecast for this year was revised higher […]