Thursday was another excellent day for the euro, as it just about managed to reach the highest point in nine weeks against the US dollar. This was thanks to inflation data for the euro area moving higher for the first time in four months, potentially showing signs that the recovery in the region is showing small improvements in momentum. The Consumer Price Index figures for April was 0%, as expected, and an improvement from the negative 0.1% reading in March.
Further good news released on Thursday were unemployment figures, which fell by 36,000 in March to 18.105 million – although the unemployment rate itself remained unchanged at 11.3%.
There are no data releases expected today – so perhaps the euro will finally have an enjoyable weekend after a series of difficult weeks.