The euro was weaker against both the US dollar and sterling.
The spotlight in the Eurozone remains firmly on Greece. Athens said on Tuesday that it expects to conclude a bailout deal by August 18th, but with previous deadlines missed, this should be taken with a pinch of salt. The Greek stock market fell another 1.3% on Tuesday, after a record 16% drop on Monday.
Today we have a raft of services Purchasing Managers’ Index (PMI) data out of Europe, from Spain, Italy, France and Germany, as well as from the Eurozone as a whole. We will also see retail sales data in the morning, which is likely to worsen to a negative figure of -0.3% from a positive 0.2% last month.