020 7898 0500Good day for the single currency yesterday as it made gains against sterling and its main counterpart, the US dollar.
In terms of economic data, we saw German factory orders up by 1% month on month. The figure bounced back from last month’s negative reading but still missed forecasts.
In general, the euro has softened a little this week as economic data hasn’t been that strong, but the eurozone economy is still heading in the right direction.
This week European Central Bank member Coeure said that the ECB hadn’t yet discussed changing its policy. He went on to say that discussions may happen though. This slightly dampened the otherwise so optimistic view in the eurozone.
Looking ahead, the main focus today will be on the G20 meeting in Hamburg. G20 leaders will be discussing a wide range of topics relating to global economic growth, international trade and financial market regulation. It’s also likely that North Korea will be on the agenda.
