020 7898 0500It was an extremely quiet day for the euro yesterday as events in the UK and US were the main focus of attention. However, even when nothing much happens in the eurozone it appears there is some good news, as the Organisation for Economic Co-operation and Development updated it economic forecasts yesterday.
The report said that the eurozone’s recovery would continue to strengthen next year. Indeed, the forecast went so far as to suggest that Europe’s economy would catch up with America’s. Alas, it also said that Britain’s growth is expected to slow to 1% in 2018 from 1.6% in 2016. However, we’ve written before about the unpredictability of forecasts so it would be irresponsible to put too much faith in them just now.
Later today we will see the release of flash consumer confidence for the eurozone and the European Central Bank are set to have a general council meeting. Tomorrow is the release of the German manufacturing purchasing managers’ index data for September. If we get a positive figure we can expect to see some strengthening in the euro.
