The euro had a quiet day yesterday, with Spanish unemployment change figures being the only data release of any note. Although this transpired to be worse than forecast it had little impact on the currency as a whole given the already struggling Spanish economy. Eurozone inflation data rose slightly for the month of January, following a drop in December. The outlook for the euro is overall positive, ahead of what will be the closely watched European Central Bank (ECB) press conference held tomorrow, with their rate decision being revealed.
Today we have Spanish and Italian Services purchasing managers’ index (PMI) data being released, along with retail sales figures from the Eurozone.
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