Friday saw the euro finish the week on strong footing, advancing steadily against sterling and the US dollar throughout the day. With Eurozone industrial production figures coming in just below forecast, the euro strength on Friday could be attributed to over-selling on Thursday, given the dearth of significantly positive news from the Eurozone.
It promises to be an interesting week in terms of fundamental releases, with a raft of data coming out across the bloc. Tomorrow we have flash December manufacturing and services industry Purchasing Managers’ Index (PMI) figures from a number of member states. The figures indicate the health of the relative industries, and are watched closely by markets. Later in the week we have German economic sentiment and business climate data. These are also hold sway with traders, with Germany being the flagship Eurozone economy.