020 7898 0500The single currency resumed its uptrend against the dollar on Friday after some disappointing data from the US. In addition, the currency also made gains against sterling and posted its strongest reading against it since November. In terms of economic data, it was pretty light, with only the second reading of inflation from Germany and France, which posted numbers as expected.
Economic data picks up this week with the first release of the GDP numbers from Germany on Tuesday and the eurozone on Wednesday. If we see continued growth from the region we could see the euro’s current momentum continue. On Thursday, the inflation number is due and it could be significant with regards to future monetary policy plans from the European Central Bank. There is a chance that inflation could slide slightly due to the strength of the currency.
