The euro had a difficult day against both sterling and the US dollar on Tuesday, as it continued the disappointing trend from last week. With no data released at all on Tuesday, the single currency struggled to find any support – and is unlikely to find any until today.
Before 9am this morning there has already been a raft of Purchasing Managers’ Index (PMI) data from the Eurozone; this was forecast to increase slightly from last month’s figure from 53.6 up to 54. Producer Price Index will also be released this morning, and this is expected to remain a negative figure but show an improvement from -0.8% to -0.4%. These forecast positive figures from the Eurozone may well give the single currency a much needed boost and hit back from the recent lows.