An unremarkable day for the euro yesterday saw it hold flat just below 1.27 against the US dollar, but make up some ground against a relatively weak sterling. The only data release was wholesale inflation data out of Germany, which was bang on forecast of 0.1%.
Today promises to be more interesting, with monthly German economic sentiment figures released this morning. Last month’s figure was 6.9 (anything about 0 illustrates optimism), but with the German economy having shown some very worrying signs over the past month, we can expect today’s figure to be well below that. Monthly industrial production figures from the whole European bloc will also be watched closely this afternoon.