Home » Currency Note » Currency Note » Currency Note EUR » EUR: PMIs show economy continuing to struggle

European PMIs all painted a picture of the economy continuing to struggle. The euro sold off from the highs but then accelerated lower as news came out that the ECB had appointed administrators to Banca Carige. Despite being a rather small Italian bank, the headline spooked the market as fears of problems in other Italian banks resurfaced, sending the euro down 150 pips to 1.1320 through the day.

Ironically though, once the really choppy price action started elsewhere, EURUSD traded within a tight range and the euro has subsequently rallied 75 pips from the overnight lows. Possibly in a world of bigger and bigger problems the ones facing the Eurozone at the present time are not considered that serious.

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!