020 7898 0500There were no major releases in the eurozone yesterday, as attention turned to the wage growth figures from the UK, as well as the Fed’s interest rate decision in the US. However, despite the lack of key data releases, the euro still found itself strengthening against the dollar.
If we take a look at the last week or so, we can see that the euro has slid against sterling 10 days out of the last 11. The moves amount to more than 2.5 cents gained by sterling – this is largely in line with the moves since the turn of the year. While there haven’t been any major movements between the GBP/EUR pairing, sterling is enjoying a positive run of late and you do have to wonder when the next big move will come. Perhaps further progress in the Brexit talks could trigger significant sterling strength.
Today we have a much busier day, as we will see a raft of purchasing managers’ index data from Germany and across the eurozone. We will also see the German Ifo business climate for March – it is expected to slip a little from 115.4 to 114.6.
