Yesterday was a quiet day in the Eurozone, with only bond sales data in Italy and France. The euro strengthened slightly against the dollar. Despite holding steady against the pound, the single currency remains at one of its weakest levels since June.
Today sees a dramatic spike in data releases, with the German ZEW (Centre for Economic Research in Mannheim) taking the spotlight. It will release its Economic Sentiment and Current Conditions for Germany, as well as the European Union’s Economic Sentiment.
Germany and Spain will also release price data, whilst Italy will announce industrial production figures. We are yet to see whether talk of a guarantee that non-performing loans held by some Italian banks will be purchased will act as a brake on the weakening euro.