020 7898 0500There was virtually nothing on the eurozone’s economic data schedule yesterday, so any euro movements were always going to be driven by events elsewhere. The single currency was perhaps a little fortuitous not to lose more ground against sterling, given how positively the markets are reacting to reports that a Brexit deal might be reached after all – especially when we consider the pound’s recent movements against the dollar. Still, the pound has reached levels against the euro it hasn’t seen for some time now and the question is whether this can continue throughout the rest of the week and beyond.
Against the dollar, the euro fared better and made some decent gains following two consecutive days of declines. It will be interesting to see what happens against the dollar today, given the fact that there are a few notable releases from America on the schedule.
The highlight from the eurozone today is the European Central Bank’s monetary policy meeting accounts. It will be good to see whether there are any further allusions to interest rates in the future – it has been suggested that there could very well be a rate hike before the end of ECB President Mario Draghi’s tenure.
