Private DCN Private DCN - Euro

EUR: Data-heavy day for euro

By Ricky Bean November 4th, 2016

This week has seen plentiful releases of data from the Eurozone, but these have had little significance on the euro. Monday saw German retail sales, which came out worse than expected, and Eurozone inflation data, which was as expected. Tuesday saw bank holidays and an absence of data releases from the bloc.

Economic data releases resumed on Wednesday as Germany, Spain, Italy and France released manufacturing Purchasing Managers’ Index (PMI) figures. We also saw positive unemployment data from Germany. Yesterday saw Italian and Spanish unemployment figures, with the Spanish data showing a slight improvement and the Italian figures worsening. The Eurozone released its bulletin and overall unemployment data for the bloc.

Today sees a raft of services PMI data released, from Spain, Italy, France, Germany and the bloc as a whole. As has been the case for the last few weeks, Eurozone market data has not been driving euro markets, with the currency generally taking a back seat and reacting to political information in other markets, namely the UK and the US.