Euro – European Markets The Euro is trading in a tight range against the majors this morning ahead of the revised consumer price inflation data in the Euro zone, which is expected to match the preliminary estimate for November. However, with crucial events like the FOMC meeting in the US and the first round of the Greek Presidential elections scheduled later today, the common currency is likely to witness some volatility against its major peers in the latter half of the trading session. The single currency gained ground against the greenback in yesterday’s trading session following the release of mostly upbeat macro updates in the Euro zone. The preliminary Markit survey showed a more than expected improvement in the Euro zone’s manufacturing and services PMI readings for December, thereby raising hopes that the downward macro trend in the region is weakening. Additionally, the ZEW survey released in Germany showed a more than expected improvement in investor sentiment as they regained confidence in the economy’s performance going forward amid a weaker Euro and falling global crude oil prices.
Posted on: Wed, 17 Dec 2014 10:59:26 +0000
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