Private DCN Private DCN - Euro

Encouraging data out of Germany pushes euro up

By Callum Holmes December 20th, 2016

This week started with all eyes firmly focused on Germany which eclipsed the rest of the Eurozone in terms of data releases.

Germany Business Expectations data came out as expected, but the IFO Business Climate Index and Current Assessment figures beat expectations. A speech by German Central Bank President Jens Weidmann added to the positive sentiment. As a result, the euro finished the European trading session up against the pound and pretty much unchanged against the dollar.

Today sees fewer high-ticket releases but Germany remains the focal point, this time with producer price levels. European current accounts and net investment flow data will also be released. These figures, however, are not expected to have too much of an effect on the euro.