Although a steady day for the euro, it remains largely weak as concerns over Greece continued to weigh in on the single currency. What’s more, bad news was released from Germany – with their economic sentiment data showing signs of deterioration, after a few positive months. The forecasted figure was 55.3, but the actual figure fell way below the mark at 53.3 – continuing a difficult week for the single currency. Yesterday, Bloomberg also reported that the European Central Bank (ECB) is considering much stricter rules on Greek banks so they can access much needed emergency liquidity; this therefore adds even more pressure on the shoulder of Athens.
Today we have industrial output data from Italy although this is likely to have a minimal effect on the euro. The main focus for the day will be European Consumer Price Index (CPI) in the afternoon, forecast at -2.75%