020 7898 0500Data released yesterday showed that Business Confidence in the Eurozone’s largest economy has declined again, now reaching its lowest point in 2014. However, once again, this economic data did not have the expected effect on the single currency – in fact, perhaps more due to external influences, the euro began to strengthen against both sterling and the US dollar throughout the dollar, before retreating against the US dollar later in the day. The movements seemed to suggest that the effect of Eurozone fundamental economic data has been muted of late, whilst events elsewhere and key rate levels have played an increased role.
German Consumer Climate data is due out today, but given current trends is unlikely to have a large effect unless figures vary considerably from the previous month’s index of 8.5.
