020 7898 0500The euro didn’t fare too well against sterling or the dollar yesterday, as the business climate indicator missed expectations in August. It fell by 0.08 points to 1.22 which was below expectations of 1.28. It is the lowest reading since August last year. Inflation and unemployment in Germany came in as expected at 2% and 5.2% respectively.
Services sentiment in the eurozone came in at 14.7, which was worse than the 15.1 expected, but economic and industrial sentiment fell in line with expectations. Consumer confidence hit -1.9 in August which, again, was as the markets had expected.
Today we will see the inflation rate for the eurozone and we will also see the unemployment rate for July, as well as German retail sales.
