020 7898 0500This week has seen mixed data come out of the Eurozone. Monday saw a release from the International Monetary Fund (IMF) suggesting that Greece would struggle to achieve the required budget surplus quickly enough at their current rate of progress. Mario Draghi, the European Central Bank (ECB) chief, also announced that the ECB view was that their current monetary policy was correct and would not be changed in the short term. Germany and Spain also saw reductions in their national Industrial Production figures. Yesterday saw only German trade data, and while this data was not high-impact, it was the largest ever current account surplus announced (by any country). The mixed data led to a volatile period for the single currency, which strengthened against both the dollar and the pound at the beginning of the week, before weakening towards the end of the week.
Today sees another busy day. The head of the German Central Bank will speak, France will release industrial production as well as important employment data, and Italy will sell 12 month government bonds.
