It was quiet start to the week for the euro, with the single currency trading in a fairly narrow range against the majority of its peers. A raft of manufacturing industry figures from across the bloc were released yesterday morning, but, had a muted impact on the markets after coming in largely in line with forecasts. A strong sterling saw the euro drop off against its British counterparts, and similarly a weak US dollar allowed the euro to gain a little, but provided no dramatic movement.
This morning we saw better than expected Spanish unemployment data with jobless claims falling by 14,688 in November. Looking forward to today we have inflation data in the form of the Producer Price Index, released at 10am.