EUR: data-heavy week ahead may add to current pressure on the euro

Last week the euro fell against its major peers and those with euro exposure are eagerly awaiting European Central Bank President Mario Draghi’s speech later today.

Tomorrow the German central bank will release its monthly report, which could have a significant effect on investor confidence in the German but also the wider European economies – and the single currency of course. EU consumer confidence will also be released on Tuesday. On Wednesday we will see flash Consumer Price Inflation figures released in Germany and France and for the bloc in general (both manufacturing and services data).

The German IFO Business Climate Index (which is widely respected by investors) will be out on Thursday, as will be Germany’s final Gross Domestic Product figures for the third quarter and GfK consumer climate data. Belgium will release their NBB business climate information on the same day.

The week will end with a much quieter day on Friday, with only Italian retail and industrial production figures. Eurozone data will finish with French unemployment figures.