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Euro Moves Higher In Spite of Global Market Volatility

February 3, 2014 at 15:49 by Miranda Marquit

1,200 eurosEuro is gaining some ground today, even after the difficulties seen with emerging markets and with risk appetite falling. Risk sentiment is fading, but the euro is managing to pull out some gains anyway.

Concerns about emerging markets are once again surfacing as Russian manufacturing shrinks and traders are reminded of the recent data out of China that was so disappointing.

Additionally, there is a great deal of uncertainty in traders and investors as they look forward to this coming week, with its large amount of economic data. A picture of the global economy is expected to emerge following data releases throughout the coming week, and that has many wondering how things really are.

In spite of all this uncertainty, volatility, and change in risk sentiment, the euro is doing reasonably well. Euro is gaining ground against some of its major counterparts — even with questions about what the ECB will do next. Some expect the ECB to put off any further easing, thanks to the fact that eurozone data, especially factory data, is showing improvement.

For now, the gains are small as many forex traders wait to see what’s next.

At 15:46 GMT EUR/USD is up to 1.3503 from the open at 1.3484. EUR/GBP is up to 0.8265 from the open at 0.8206. EUR/JPY is down to 136.9540 from the open at 137.5050.

If you have any questions, comments, or opinions regarding the Euro, feel free to post them using the commentary form below.

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