The headline data yesterday saw German Industrial Production come in worse than expected, together with lower-impact figures from Italy and France. Despite the negative German results, the euro (EUR) actually strengthened against the pound (GBP) and remained steady against the US dollar (USD).
Today sees far more influential data released. The European Central Bank (ECB) deposit rate and the single-bloc’s interest rate are both out – expected to remain at -0.4% and 0% respectively – followed by the latest ECB press conference, where a decision on the future of the country’s quantitative easing policy will be communicated. Any movement on the interest rate – or deposit rate – will likely shock the market and cause volatility, as will any increase or decrease in the ECB’s quantitative easing, although there are mutterings that it could be increased given the uncertainties facing the Eurozone. France will also release employment data, and similar figures are due from Greece.