Despite the German two-year bond sale being the only data release from the Eurozone, the euro saw a lot of activity yesterday. The euro fell against the pound and the US dollar as investor sentiment changed during the day. The unexpected Trump victory saw a surprising lack of market reaction (but was almost certainly the root cause of the aforementioned volatility) with the DAX stock index opening slightly higher.
With the US elections over and Brexit plans to be finalised, could we experience a return to prevalence of economic data in currency market movements? Today sees a trickle of lower-tier data from the Eurozone today, French non-farm payroll figures being the highlight (we will also see Irish, Greek and Portuguese price level data and French and Italian industrial production figures). In the short term, though, economic figures (especially those that aren’t high-impact) are likely to remain in the backseat as the reality of a Trump presidency sets in.