Busy week for Eurozone data, will it help or hinder the euro?

Friday was a relatively uneventful day for the single currency as it saw little movement against sterling and made modest gains against the US dollar. The finance ministers of the European Union did engage in an important debate on Friday regarding the ‘Single Resolution Mechanism’ – the system that will oversee the Eurozone banking system – but little was achieved in the way of finding common ground. The first big data release of this week will be tomorrow morning’s Economic Sentiment figures coming from Germany. Later in the week, German and French flash manufacturing data releases are likely to affect euro performance, whilst on Friday’s German Business Climate data may spur market volatility on Friday. Call your trader now for a more in depth look at movements in euro pairings over the week ahead.