020 7898 0500As mentioned above, it was an extremely quiet start to the week for the currency markets, as the movements were very slight and trading was within a tight range throughout the day.
However, there was some news, as officials in the eurozone appeared to pour cold water on Greek hopes that new loans would be given the green light. The finance ministry in Greece had been confident that they could secure loans of up to €5.7 billion would be given the go-ahead, but officials have suggested that some reforms need to be completed before more loans can be drawn down. It is hoped that both will be resolved by 26 February.
Today’s key release is the German ZEW economic sentiment index for February. As a survey of up to 300 experts from banks, insurance companies and finance departments, the index is seen as a leading indicator for the German economy. From 20.4 in January, it is expected to dip to 16.0 this month. Finally, we have the eurozone’s consumer confidence flash reading for February.
