The euro saw mixed results last week, with the trend continuing on Friday after it strengthened against sterling throughout the day, reaching its highest point in the last two weeks. Early on Friday, Industrial production data from Germany and France turned out in the negative, but this was generally overlooked by investors.
This week is a busy one for the euro. On Tuesday morning we will see ZEW German business confidence data, which is likely to remain the same as last month’s figure of 63.9. Amy deviations from estimates could potentially cause movement for the euro.
Industrial production data for the Eurozone is out on Wednesday; given with last week’s poor figures from France and Germany, this is likely to be a disappointing figure on the whole.
The spotlight this week will shine on Friday morning, however, with growth data due from France, Germany and Italy due, as well as a Eurozone Consumer Price Index (CPI). An indicator of inflation, the CPI figure could also have a significant impact on the euro.