020 7898 0500The lack of significant data releases from the Eurozone and the countries forming its major currency pairs meant that speculation drove the markets throughout Monday. However. a sterling rally saw the euro weaken throughout the day. Conversely, the euro saw comparatively minimal fluctuations against the US dollar, with the pair barely moving away from 1.1230 throughout the day.
This morning will see the release of ZEW economic sentiment data for the Eurozone as a whole, as well as Germany in particular. Forecasts for the latter expect significant improvements on last month’s figure, at 2.8. In addition to this, European Central Bank (ECB) President Mario Draghi is expected to speak and any hints toward an anticipated interest rate change or increases to quantitative easing will likely cause significant market volatility.
