The euro had a positive day before those gains were erased as investors eagerly await Thursday’s European Central Bank (ECB) meeting. Industrial production data was much higher than the expected figure, coming in at 3.3% rather the forecasted 0.5%. Growth figures in the form of Gross Domestic Product (GDP) measurements were in line with the forecast, at 0.3% for the previous quarter; this had a fairly muted response on the markets. On the whole we have seen limited movement for the single currency this week, almost ending Tuesday exactly where we opened against its major peers.
There is no significant data out from the Eurozone today so most of the build-up will be the all-important ECB meeting on Thursday, including the interest rate decision announcement, closely followed by Mario Draghi’s speech.
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