020 7898 0500Tuesday was a relatively positive day for the euro as it made yet more gains against sterling and some slight gains against the US dollar too. There has been very little economic data released so far this week so it will be interesting to see what influence the releases will have on the single currency later in the week.
There were some releases yesterday though, in the form of Spain’s consumer confidence and jobless claims. Consumer confidence was the lowest since March as it fell to 103.2 in September from 108.9 in August. However, it is worth noting that August’s reading was the highest ever, so further increases were unlikely.
Unemployment figures were more positive as, although the number of people registered as unemployed in Spain rose by 27,900 in September, the total number of unemployed people reached a fresh eight-year low. Looking ahead to today, we have retail sales from countries across the eurozone, as well as a raft of PMI data. Tonight, European Central Bank President Mario Draghi is scheduled to give a speech and it will be interesting to see what he says.
