It was another relatively ordinary day for the euro yesterday, with no real notable data releases. German bond auction and import prices figures came in largely in line with forecasts, and as a result we saw the single currency hold firm against many of its peers. A small amount of ground was gained against a weaker US dollar, and it saw some small losses against a stronger sterling, but on the whole the euro was mainly unchanged.
Expect a more eventful day today, with a raft of inflation data being released from the bloc. Mario Draghi, President of the European Central Bank (ECB), has cited waning inflation levels as being the primary driver behind any decision to ramp up quantitative easing, and as a result traders will be watching the release closely.