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  • David Becker

    The Euro came off its highs following remarks from ECB president Mario Draghi focusing on the need to act prior to allowing deflation to take hold. Consumer confidence remains steady with economic expectations edging higher but personal income expectations declining. Average volume is low due to the UK and US holidays. Currency traders reacted to

  • Portugal’s Current Account Balance is showing a further slight deterioration in March to -€0.652Bn from the -€0.465Bn experienced in February. There is no market surprise element in these figures as the data relates to a period prior to the bailout exit. Portugal has recently left the €78Bn EU/IMF bail out program and economists will be

  • David Becker

    The EURUSD extended to a near three-month low of 1.3660 after meeting a fresh wave of selling from the 1.3780 area. The move was a delayed reaction to the Eurozone GDP miss, which did not initially prompt an FX reaction until traders absorbed the releases of national figures out of Italy and Portugal. The price

  • Forex » Eurozone GDP Growth Falters
    May 15, 2014, 17:01 GMT

    Eurozone Gross Domestic Product (GDP) growth has disappointed markets this morning despite showing some clear gains on the previous quarter. The preliminary figures suggest that the single currency bloc has in the first quarter of this year repeated the 0.2% growth achieved in the final quarter of 2013, economists had been expecting this to rise

  • Forex » Eurozone Growth Forecasts Cut
    May 5, 2014, 10:02 GMT

    Eurostat has released the final March figure for the Producer Price Index of the Eurozone, this has ticked up very slightly on the previous month. Year on year the index is now reading at -1.6% which represents a minor improvement on the February number of -1.7%, market consensus estimates supported no change from this -1.7%

  • Forex » Portugal Current Account Balance
    April 22, 2014, 11:03 GMT

    Statistics Portugal has withheld details of the country’s Current Account Balance for the month of February which were due this morning, An improvement on last months €0.185Bn deficit was expected. The Portuguese authorities had been hoping for some welcome news as they continue preparations to exit their EU/IMF bail out in the coming weeks. In

  • Forex » European Inflation Remains Disappointing
    April 10, 2014, 10:28 GMT

    Eurozone members are individually reporting inflation data en masse this morning and with the exception of some peripheral countries it isn’t boding well for the overall pace of European price growth. Ireland has just published it’s Consumer Price Index (CPI) for the month of March, the year on year figure has turned to a positive

  • Forex » Portugal Trade Deficit Widens
    April 9, 2014, 10:27 GMT

    Statistics Portugal have just published the country’s Global Trade Balances data for February. The overall figure for goods and services shows a trade deficit increase to €333.3 million for the month of February, this is further slippage on the January deficit. Portugal has made significant progress on it’s trade balance deficit since hitting a record

  • Statistics Portugal have just published the Current Account Balance figure for January. The negative balance of €0.185bn is marginally down on the December number of €0.88bn, the key is that although lower this number is remaining relatively stable. This time two years ago the Portuguese current account deficit was over €11bn. Portugal is the latest

  • Consumer inflation in the Eurozone fell further below target in February, a sign deflationary pressures still threaten to undermine recovery in the 18-nation currency bloc. Eurozone consumer inflation rose 0.7 percent annually in February, according to a revised estimate from the European Commission. The so-called core measure, which excludes volatile goods such as food, energy,

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