Yesterday saw a quiet day for the Eurozone. German factory orders beat expectations, but French trade data was mixed. The euro’s fate was also mixed, strengthening against the pound but weakening against the dollar.
Today we have key economic data releases within the single currency bloc. The European Central Bank will hold a press conference after releasing its benchmark interest rate and deposit facility rate. Investors will be watching closely after inflation figures on the continent hit 2%, which is ever so slightly over the ECB’s stated target.
Also, the press conference will be monitored for any hints of the central bank changing its loose monetary policy. Speculation suggests things will be kept as they are, with key elections coming up in several member states. Any alternative thoughts from the ECB could still cause volatility in the markets.