Home > Resource Hub > Daily Market News > Euro stuck like glue

Euro stuck like glue

Euro stuck like glue


With no major domestic data releases yesterday Sterling was largely driven by global trends, especially as risk appetite fell in the afternoon, weakening support for the Pound but only producing a weak effect on prices. There was also caution over buying the Pound ahead of the Scottish elections. Sterling failed to threaten the 1.4000 level against the Dollar before drifting below 1.3950 while the Euro again settled near 1.1500.

Beware of significant price moves as traders adjust their positions today in light of the Bank Holiday. There is significant potential for “choppy trading”, especially on and around 4pm “the London fix”. Risk appetite trends will be watched closely and will affect to the Pound to varying degrees.

This morning’s business confidence data has seen a sharp improvement, but the Pound hasn’t reacted and is still below 1.3950 to the Dollar and around 1.1500 to the Euro.



Underlying Dollar sentiment remained generally weak following the Fed statement, but there was a further recovery from overnight lows. The US currency was able to recover some ground against commodity currencies and the Euro drifted towards 1.2100 before stabilising.

US confidence continues to be fragile this morning with markets also wary over month end position adjustment later in the day with the Euro trading around 1.2115.



The Euro posted strong gains against the Dollar on Wednesday and climbed to its highest level in two months at the 1.2150 on Thursday before losing its momentum.

Data wise, today brings the first-quarter GDP figures from Germany with the Eurozone being watched closely by market participants.

As of writing, the Euro currently trades around the 1.2110 mark against its US counterpart. 


Data to watch

09.00 EUR – German Prelim GDP

Share this case study
Set yourself up in minutes, make payments the same day: it’s free, easy and without obligation.