European Investors look at Currency moves Today

The financial markets are ringing in today’s opening bell in negative territory. Investors are eying a strengthening US Dollar and a euro which took a bit hit yesterday as economic data suggested that Eurozone growth was slowing again.

As of 6:05 am GMT, futures on the London bourse are 30 points lower. Futures in Germany are down about fifteen points and in France, futures are currently down twelve points.

Investors will get European data this morning as Germany and Spain will release their retail sale before 8:00 am London time. France is releasing their preliminary inflation data and Turkey will release its gross domestic product number.

Also on tap for today, NATO will host its foreign affairs meeting in Brussels. US Secretary of State Rex Tillerson is due to attend. The new American administration has been calling on NATO members to increase defense spending and play a greater role in the fight against terrorism.

European investors also look South Africa

Last night, the President of South Africa Jacob Zuma dismissed is Finance Minister Pravin Gordhan after days of speculation towards a cabinet reshuffle. The country’s currency has been under pressure thanks to political uncertainty.

In Eurozone corporate news, GSK (GlaxoKlineSmith) is getting a new chief executive officer. Mr. Andrew Witty is stepping down. He will be replaced by Emma Walmsley, she was the chief executive of the drug maker’s consumer healthcare division.