Home » Currency Note » Currency Note » Currency Note EUR » EUR: German industrial production drops; markets wait for Brexit breakthrough

Euro weakened yesterday evening as hopes on Brexit rose, with EC President Jean-Claude Juncker and Theresa May agreeing to a further legal instrument around the Northern Irish backstop issue. However, we’re none the wiser whether it will be enough to pass through the House of Commons – and it looks to be a rocky time for euro ahead.

If the withdrawal agreement with the new legal instrument doesn’t go through, then we’ll see another vote on Wednesday on leaving without a deal and on Thursday on extending the deadline. All this points to further volatility for the euro.

Meanwhile, German factory production, which had been forecast at +0.5%, came in at -0.8%, not helped by Eurozone uncertainty and fewer orders from China. However, if we remove car production from the calculations, then German industrial production was up 0.5% month on month, in a slightly more positive sign.

Find out how we can help you

Let us know a little more about your upcoming currency exchange needs. We aim to take the uncertainty away by providing guidance on which services suit your individual requirements. You can then rest, assured your money is not at the mercy of the currency markets.

Protect against risk

Avoid losing money and protect against currencies moving against you.

Dedicated trader

Dedicated currency trader working with you to get the best value for your money.

Secure and efficient transfers

Secure, quick and efficient transfers. Authorised by the FCA.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Keep up to date

Get regular, jargon-free currency market updates delivered directly to your inbox.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Refer a friend or business

Recommend our services to your friends, family or colleagues and earn great rewards.

You have Successfully Subscribed!