The Euro is little moved against its peers as investors opt to keep a close eye on developments in the United States and despite the release of data which showed that factory output across the Eurozone expanded by its strongest level in two years.
On a monthly basis production across the Eurozone climbed higher by 1% in August, beating economist expectations for a rise of 0.8%. Investors were little impressed however as on a yearly basis production across the region actually fell by 2.1%, down from the 1.9% increase reported in July.
The overall region may have improved in August but certain nations reported surprising declines. Production in Italy fell by 0.3% whilst Greece and Spain both continued to post negative readings. Germany, Europe’s strongest economy managed to record a 1.8% rise and France saw production edge higher by 0.2%. Portugal meanwhile took everyone by surprise by posting an 8.2% rise in August; the nation’s strongest reading in two years. The data supports the view that Portugal is on track to exit its international financial assistance programme next year.
Against the US Dollar the single currency managed to edge slightly higher as the ongoing political stalemate over the US budget and rapidly approaching debt ceiling deadline caused investors to avoid the US currency.
European Central Bank President Mario Draghi said it was “unthinkable that an agreement won’t be found”. Against the Pound, the Euro is little changed.
Major events this week for the Euro
Tuesday 15th October – Euro German ZEW Survey for Economic sentiment
Wednesday 16th October – Eurozone Consumer Price Index
Eurozone trade balance
Thursday 17th October – Eurozone Construction output
Euro (EUR) Exchange Rates
As of 11:20 am GMT
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3563
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8488
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4307
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6191
The Euro/ Canadian Dollar Exchange Rate is currently in the region of: 1.4028
The Euro/ Japanese Yen Rate Exchange Rate is currently in the region of: 133.2587
The Euro/Swiss Franc Exchange Rate is currently in the region of: 1.2343
The Pound Sterling/ Euro Exchange Rate is currently in the region of: 1.1779
The US Dollar/Euro Exchange Rate is currently in the region of: 0.7373
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6987
The New Zealand Dollar/Euro Exchange Rate is currently in the region of: 0.6174
The Canadian Dollar/Euro Exchange Rate is currently in the region of: 0.7128
Swiss Franc/Euro Exchange Rate is currently in the region of: 0.8101
