There was a lull in Eurozone news yesterday as little emerged from the eighteen-nation bloc in terms of data releases or influential policy developments. The single currency traded within a relatively narrow range against both sterling and the US dollar throughout the day.
Today could see similar movements for the euro unless the Money Supply figures see some divergence from expectations. These figures detail the volume of domestic currency in circulation within the Eurozone and are expected to detail an increase of 1.5%. The data set is positively correlated with interest rates and therefore higher-than-expected data will have a positive impact on euro performance.
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