Euro dives on Draghi statements, poor eurozone data
June 24, 2014 8:49 am
The euro struggled to make headway following some milder business-sentiment surveys, which affected the currency.
Purchasing managers surveys for the eurozone, France, and Germany in general were below forecast, pushing the euro down 0.1% to $1.36.
Prior to figures, European Central Bank President Mario Draghi outlined the case for sticking with the bank’s current stimulus program. He also added outright quantitative easing could be used if inflation expectations dwindled in the medium term.
“Although we think it will prove a very interesting summer for the FX markets, the action is likely to be away from euro-dollar or yen-dollar. We suspect that sterling and the Canadian dollar could see some interesting moves against a range of currencies.” said Bank of New York Mellon analysts.
The material has been provided by InstaForex Company – www.instaforex.com
The euro struggled to make headway following some milder business-sentiment surveys, which affected the currency.
Purchasing managers surveys for the eurozone, France, and Germany in general were below forecast, pushing the euro down 0.1% to $1.36.
Prior to figures, European Central Bank President Mario Draghi outlined the case for sticking with the bank’s current stimulus program. He also added outright quantitative easing could be used if inflation expectations dwindled in the medium term.
“Although we think it will prove a very interesting summer for the FX markets, the action is likely to be away from euro-dollar or yen-dollar. We suspect that sterling and the Canadian dollar could see some interesting moves against a range of currencies.” said Bank of New York Mellon analysts.
The material has been provided by InstaForex Company – www.instaforex.com
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