EURO (EURUSD) : 11.59Pm
Euro currency traded lower by 0.3 percent yesterday owing to strength seen in the American currency. Moreover, lack of important economic data releases from the zone kept the trading
volumes light.
Excess liquidity in the Euro-zone marginally fell to E977.626bln on Friday from E982.096bln the night before according to latest ECB figures. Moreover, the Bundesbank boss and ECB governing
council's Weidmann in an interview signaled at the possibility of adjusting the bond-buying programme. They also acknowledged the fact that they might be a pressure of keeping interest rates
low as highly indebted countries could not withstand a rate rise.
OUTLOOK
Euro is expected to trade lower as markets remain a bit cautious ahead of the important German GDP data release from the zone that will come later in the day.
* Spanish Manufacturing PMI declined to 51.0 in July'16 from previous months 52.2.
* CPI Flash Estimate for the month of July’16 surged by 0.2 percent from previous months 0.1 percent.
* German Retail Sales plunged by 0.1 percent in July’16 from a gain of 0.7 percent in previous month.
* Prelim Flash GDP for q/e June’16 plunged by 0.3 percent
from previous quarters 0.6 percent.
Euro currency traded lower by 0.3 percent yesterday owing to strength seen in the American currency. Moreover, lack of important economic data releases from the zone kept the trading
volumes light.
Excess liquidity in the Euro-zone marginally fell to E977.626bln on Friday from E982.096bln the night before according to latest ECB figures. Moreover, the Bundesbank boss and ECB governing
council's Weidmann in an interview signaled at the possibility of adjusting the bond-buying programme. They also acknowledged the fact that they might be a pressure of keeping interest rates
low as highly indebted countries could not withstand a rate rise.
OUTLOOK
Euro is expected to trade lower as markets remain a bit cautious ahead of the important German GDP data release from the zone that will come later in the day.
* Spanish Manufacturing PMI declined to 51.0 in July'16 from previous months 52.2.
* CPI Flash Estimate for the month of July’16 surged by 0.2 percent from previous months 0.1 percent.
* German Retail Sales plunged by 0.1 percent in July’16 from a gain of 0.7 percent in previous month.
* Prelim Flash GDP for q/e June’16 plunged by 0.3 percent
from previous quarters 0.6 percent.