Economic data from the region was generally positive as both the service PMI and the composite number were revised upwards, signalling faster expansion within the region.
However, despite this, the single currency lost ground across the board. The main reason for that we’re comments from European Central Bank member Benoit Coeure who stated that the ECB had not yet discussed a change in monetary policy. He went on to say that discussions may happen but they haven’t happened yet.
Today the main focus will be on the ECB’s June policy meeting minutes. They may provide insights into the economic conditions that influenced their policy decisions.