020 7898 0500The euro touched a three-week high against the dollar on Friday following Powell’s comments regarding future policy. The dollar’s loss was the single currency’s gain – and not for the first time. It also managed to make some gains against the pound which continues to tread choppy waters.
The main release was the German GDP growth rate for the second quarter of 2018. There were no surprises, with the year-on-year reading coming in at 2%, while on a quarterly basis the economy grew by 0.5%. This as up from 0.4% in the previous period.
Today is fairly quiet, but tomorrow we will see GfK consumer confidence from Germany and the German unemployment rate on Thursday. We will also see business confidence from the Eurozone.
