Euro is slightly lower against most of its major counterparts this morning, dropping a little bit as Forex traders consolidate positions and wait for tomorrow’s data releases.
Last week’s numbers seemed upbeat for the eurozone, and the 19-nation currency is trading at around the 1.13 level against the US dollar again. This is an improvement from a few weeks ago.
However, today there isn’t a lot of action and the euro is slightly lower against many of its counterparts as traders and other consolidate positions and look ahead to the rest of the week. There aren’t many data releases set for today, but tomorrow there should be information about eurozone PMIs to add to the speculation about what could be next for the economy.
Forex traders, investors, and policymakers will also be waiting for a meeting of central bank heads later this week in Jackson Hole, Wyoming. Speeches from bank heads, including the Fed’s Janet Yellen, are expected and trading could be light this week as many wait and see what’s next.
At 13:22 GMT EUR/USD is slightly lower, moving down to 1.1308 from the open at 1.1309. EUR/GBP is also moving a little bit lower, dropping to 0.8631 from the open at 0.8661. EUR/JPY is down to 113.69 from the open at 113.97.
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