020 7898 0500Services Purchasing Managers’ Index (PMI) data was the theme of the day yesterday, with Germany, Spain, France and the bloc as the whole releasing figures. Spanish and French data showed growth, but came in worse than expected. This was eclipsed by German and EU figures, which showed growth but exceeded expectations. Despite these positive data releases, the euro finished slightly weaker against both the dollar and the pound, due to data releases and market sentiment in the UK and the US.
Today sees German factory orders released, as well as the sale of Spanish and French government bonds. The main release of the day will be the European Central Bank (ECB)’s monetary policy meeting minutes, which will hint at the reasons for their plans to taper the bank’s quantitative easing policies. Any further information on monetary policy released within the minutes could have a significant effect on the market.
