EUR: busy week for the eurozone could signal further economic recovery

The euro made some slight losses against the pound and dollar on Friday as positive data from the UK and US helped strengthen their respective currencies. There were no major releases in the eurozone on Friday so attention was focused elsewhere.

However, this week marks a much busier week for the eurozone, with the release of several pieces of PMI data from countries within the eurozone, as well as the eurozone itself. Figures released of late point to an economic recovery and so the question is whether this trend can continue throughout this week.

If it does, the euro could claw back some of the losses made since the European Central Bank announced their reduced quantitative easing programme would last until at least September 2018.