020 7898 0500Euro movements against the US dollar were very limited yesterday, but the single currency weakened steadily against sterling in response to stronger-than-expected manufacturing data from the UK. Data from the Eurozone did not come out vastly different to what was expected and the net impact of the figures was limited further by the fact that the figures reflected a mixture of positive and negative news – for example, the Eurozone unemployment rate was marginally better than expected at 11.6%, whilst Italian manufacturing figures were worse.
Today further unemployment data from Spain is set to be released against a backdrop of reigniting tensions in Ukraine following the end of the ceasefire. Prolonged unrest in the region will not help the euro’s cause; however, it seems that data from within the Eurozone can do little to surprise of late.
