German data to dominate headlines in Europe this week

Friday was another positive day for the Euro as small gains were made against both Sterling and the US Dollar. There was little major data that came out of the Eurozone towards the end of the week, although some minor releases such as Belgian business climate data reflected a slightly better than expected sentiment. Looking ahead to this week, we can expect business climate data from Germany to have a more noted effect when it is released this morning. German manufacturing and services data were stronger than expected last week and traders will be looking to see if this will instil more confidence in German business leaders and point towards a sustainable Eurozone recovery. A variety of other economic indicators are due to be released this week from the Eurozone’s largest economy starting with consumer confidence data on Wednesday. This is followed on Thursday by the release of German inflation data, which is likely to have a slightly weightier influence going forwards following the German Central Bank’s comments last week and we end the week with monthly retail sales data. Call your trader now to see if the Euro can build on steady gains.