The euro’s future continued to look gloomy as it reached new lows again towards the end of last week. The euro fell to one-week lows against the US dollar on Friday, despite positive Eurozone data, as concerns over the Greek debt crisis continued to dampen demand for the single currency.
For the week ahead there is a whole raft of data, particularly from Germany, including consumer confidence, consumer price index and growth figures, all of which should have an impact on the single currency but are likely to be overshadowed by the on-going talks between the Eurozone and the Greeks. There certainly seems to be a realisation from the politicians that no agreement is the worst of all worlds for everyone concerned. If a step forward is achieved then this should be helpful for the euro and if data starts to show that the Eurozone economy is starting to recover then this could boost the euro,