Eurozone set for recovery?

A reasonable strong week for the euro was topped off yesterday when a survey showed better-than-expected business confidence coming out of Germany. Earlier in the week we had strong manufacturing and consumer confidence data coming out of the 17-member state. All these factors are suggestions that the Eurozone may be on course for a slight recovery in the second half of the year, and confidence in the market is quietly building. These are still early days, however, and there is every possibility that the region’s six-quarter recession will continue and drag into a seventh. Today is fairly quiet data-wise in the Eurozone, with the only event of note is the import price statistics coming out of Germany. Get in touch for live euro rates.