This week saw the euro weaken slightly against both the dollar and sterling towards the end of the week. In a week with a few specific high-impact data releases, European Central Bank (ECB) President Mario Draghi opened and closed the week with speeches on Monday and Friday.
Tuesday saw German preliminary growth data coming out slightly worse than expected. French final Consumer Price Index (CPI) data and Italian preliminary growth figures were also released. Wednesday saw the recently rare event of a day without significant data releases. Today finishes on a busy note, with Eurozone price data the bloc’s current account data due. We also have the aforementioned speech by ECB President Draghi, as well as a speech by the German Federal Banks’s Jens Weidmann.
Movement continues to be driven by political machinations and with elections throughout Europe in the coming year there is a lot for the euro to be concerned about.