020 7898 0500This week was another busy week in terms of Eurozone data releases. Monday saw relatively strong manufacturing figures released by both Eurozone members and from the bloc as a whole. Tuesday was less busy, seeing only Spanish Employment data (which showed improvement) and European Producer Price Index (PPI) figures, which were worse than expected. Data releases were eclipsed by rumours that the European Central Bank (ECB) is ready to taper its quantitative easing program, in an unexpected move from the monetary committee.
Wednesday saw Services Purchasing Mangers’ Index (PMI) data released throughout the bloc, with negative data seen generally, but both Germany and the Eurozone as a whole showing growth. Yesterday saw German factory orders and bond sales in France and Spain, but the ECB again took centre stage by releasing the notes from their latest meeting.
The euro has seen a slight weakening against the dollar this week due to positive US data and Hillary Clinton’s strength in the Presidential Election race, but has strengthened significantly against the pound, due to investors’ concerns over the UK government and their plans for a so-called ‘hard’ Brexit.
Today sees the release of German industrial production figures, and a raft of lower-tier data from France.
