EUR: Euro strengthens against the dollar but falls against the pound

Despite no major economic data releases on Friday, the euro found itself making some healthy gains against the US dollar. It did, however, slide against the pound but over the weekend these gains were given back by the pound.

Today sees the release of the eurozone’ balance of trade for November. It currently stands at a surplus of €18.9 billion and the gap is expected to widen for the better. The last reading showed a contraction which came below expectations so an increase would be welcomed across Europe. Expectations don’t always match with reality so we will be keeping a close eye on the reading when it is released.

Tomorrow we have several pieces of data from Germany, including the inflation rate. On Wednesday we have the inflation rate for the whole of the eurozone.