Yesterday saw a very quiet day within the Eurozone, with only the release of Irish manufacturing Purchasing Managers’ Index (PMI) figures. The results came out better than expected, helping the euro to strengthen slightly against both a weak US dollar and sterling.
Today sees a raft of manufacturing PMI figures released from around the Eurozone bloc. The headline figure will be the German manufacturing PMI, but Italy, France, Spain and the EU as a whole all follow suit in releasing their manufacturing data. On top of this, Germany and Spain will release unemployment data, with the markets focus on the former. There will also be a sale of German bonds, a good forecast of investor expectations on German and Eurozone inflation. With all of this activity, it’s possible that today may be a busier day for the euro than the last.