020 7898 0500The euro strengthened today against its major peers yesterday, despite a lack of significant data releases within the Eurozone. It was also a surprise as unemployment data released in the UK yesterday showed no fall-out, as yet, from the Brexit.
Today sees year-on-year Consumer Price Index (CPI) figures – a measure of inflation – due from the Eurozone, which is expected to remain at 0.2%. Any change from this figure is likely to have a strong effect on the euro, as inflation is one of the determining factors of the European Central Bank’s targets, and therefore heavily effects the central bank’s monetary policy.
