The euro had an unspectacular day yesterday and euro rates remained relatively static in a day of little data. The most notable rate movement was seen against sterling as the single currency weakened further, causing the rate to climb slightly higher, reaching at one stage the highest it has been since January 2013.
Today sees the release of German ZEW Economic Sentiment data at 10am, which is liable to create more movement in euro rates than we saw yesterday. These figures reflect the result of a monthly survey of German analysts and investors focused on the short-term economic outlook of the Eurozone’s largest economy, and are viewed as a leading indicator of the economic health of the nation as they can give an insight into future activity. Given the worries over the Ukraine, expectations are for a small decline. Anything different from expectations is likely to have an impact on the performance of the single currency.
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