The single currency started the week in a relatively uneventful fashion yesterday as it remained relatively static against the US dollar and made some ground against sterling. Uncertainty still reigns over whether or not the European Central Bank (ECB) will act in response to low inflation in the Eurozone, and speculation is likely to continue to play a role as we approach the next ECB monthly meeting on 6 March.
The most influential data release today is likely to be German Economic Sentiment data, which is due at 10am. Other than this, Eurozone Current Account figures are due out in the morning and Ecofin meetings, in which European Finance Ministers discuss the fiscal policies of the 28 member states, are taking place throughout the day. Both could have an impact on performance, especially when taken in tandem with the aforementioned on-going market chatter on Eurozone interest rates.
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