020 7898 0500The single currency resumed its strong performances of late and hit a four-day high against the dollar yesterday. The catalyst for the strengthening was a data release from the German Bundesbank.
The monthly report indicated that German growth might exceed their latest forecast. This is good news for the eurozone as Germany carries a large weighting in the overall figures. The big event for the euro this week will be the Jackson Hole Symposium, where comments on monetary policy from European Central Bank President Mario Draghi should help give an indication on how the currency will perform for the remainder of the year.
Looking to the day ahead, the German ZEW survey is set for release. It’s a leading indicator of economic health and is a survey of about 275 German institutional investors and analysts.
