020 7898 0500The release of better than expected growth data from Germany on Friday saw the Euro strengthen against sterling, reaching a level not seen since 2013. Against the US dollar, the euro made steady gains throughout the day until mid-afternoon, when the release of poor US retail sales data saw the US dollar sold off sharply, before recovering towards the close of play.
This week begins with bank holidays in both France and Italy, and a quiet day is expected across the board. Tomorrow will see the release of German Zentrum fur Europaische Wirtschaftsforschung (ZEW) economic sentiment data, which is expected to improve significantly from last month. Other significant data releases come on Thursday in the form of final inflation data from the Eurozone (forecast to be unchanged from last month) and the European Central Bank (ECB) Monetary Policy Meetings Accounts notes. These should give investors plenty to mull over, and any surprises could spell movement for the euro.
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