020 7898 0500There were no major economic data releases from the eurozone yesterday, which is just as well given recent developments in the UK. Everything other than the apparent progress in Brexit negotiations was always going to fall by the wayside and, understandably, the euro weakened against sterling which rallied across the board.
The single currency did strengthen against the dollar and hovered around the $1.14 mark throughout the day. There were reports the move higher was brought about by an improvement in risk appetite. Most of the week’s losses against the dollar have now been erased and it will be interesting to see whether the moves can continue throughout the final day of the week.
Today is busier for the eurozone, with the manufacturing PMI reading for Germany and the eurozone on the schedule. Both are expected to dip a little on October from the month before, but that’s perhaps to be expected given the recent disappointing economic data from the eurozone.
