020 7898 0500The euro hasn’t reacted unduly to last night’s bomb attack in Dortmund, which targeted the Borussia Dortmund football team’s bus as they were heading to their Champions League match against Monaco.
Economic data released before the attacks yesterday shows that Germany remains positive and it is expected that Europe’s largest economy will continue to grow over the next six months. The German ZEW figures did not only improve but they also came in above expectations. However, the euro couldn’t really benefit from this because ECB President Mario Draghi’s words on monetary policy last week continued to weigh on the single currency.
In the meantime, the upcoming French election will be watched closely. The latest polls suggest that far-right leader Marine Le Pen will win the first round but be beaten by Emmanuel Macron in the second round. Having said that, Donald Trump was expected to fall at the first hurdle and Brexit wasn’t forecast, so it’s probably best to take all polls with a pinch of salt.
