020 7898 0500On a day dominated by economic data releases from the UK and US, the fact the German unemployment rate slipped to its lowest mark for almost 38 years slipped under the radar somewhat. It is certainly encouraging news and helped buoy the euro against the dollar; it strengthened against the sterling because of poor GDP data from the UK.
It was a busy week for the euro which experienced significant volatility for several reasons. First, comments made by the European Central Bank that effectively said interest rates would be kept on hold for the foreseeable future weakened the euro, as did the fact US Treasury yields pushed through the 3% barrier. But then came the aforementioned UK GDP growth rate data to leave the euro ending the week on a high.
Today we have the German inflation rate for April which is expected to hold steady at 1.6%.
