In a quiet day for data across the board, movements in the euro were limited. It appreciated slightly against sterling and the US dollar, but no sharp rate movements were seen. German Producer Price Index – a key indicator of inflation, detailing the change in price of manufactured goods – came in marginally lower than expected, but failed to have a notable effect.
Looking ahead to today, Eurozone data releases include the German ZEW Economic Sentiment index, which is expected to show rising optimism in Europe’s largest economy, and Spanish quarterly House Price Index figures. However, euro fortunes this week are likely to be more closely tied to Wednesday’s flash Manufacturing data releases and the preceding speculation.
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