A mixed week for the euro has seen a resurgent performance against the US dollar, whilst making marginal losses versus sterling. A quiet start to the week for the euro saw German industrial production record 0.7% growth throughout August. Although this missed the forecast level of 1%, the single currency largely held its own across the board and was further bolstered by upwardly revised economic Eurozone growth figures. Thursday presented little in the way of data, with the euro largely trading in line with wider market movements.
Today the Economic and Financial Affairs Council, the main decision-making body for the Council of the European Union (EU) meet to discuss a whole range of economic issues. This morning saw the release of Consumer Price Index (CPI) from Germany that came out at 0%, in line with market expectations.