The euro had a very quiet start to the week, as the only piece of data from the Eurozone were manufacturing orders from Germany, which came out marginally better than expected at -0.1%, rather than the forecasted -0.3%. This had almost no effect on the markets as the lack of data releases caused markets to stay calm throughout the day.
Earlier this morning, industrial production data from Germany was released, forecast to improve significantly, from -1.2% up to 0.5%. Slightly later on we expect Eurozone growth figures, which are expected to remain flat at 0.3%. Any fall could again increase pressure on the European Central Bank (ECB) to announce further stimulus measures on Thursday when Draghi takes centre stage.
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