Excel Currencies Blog

The final GDP number out of the Euro-Zone for Q1 this year has been revised down into negative territory today. -0.1% has officially replaced the estimated +0.1% figure and it means the region suffered a winter recession after posting 0% growth in Q4 of last year.

It's more bad news for the Euro then that has had a real torrid time in Q2 so far with 3% being lost against a basket of currencies. This is the exact opposite as to what many analysts had predicted towards the end of Q1, where a purple patch was expected for the single currency.   

This week has seen little to no action on the market as hardly any economic data has been released. The stock market has overall been steady and there has been no political dramas of late either. This has seen a further consolidation period for the Pound which remains positive amongst traders currently.