020 7898 0500The end of last week was fairly quiet for the eurozone as other news, particularly from the US, took centre stage. However, despite the lack of noise, the euro still found itself making some gains against the US dollar. It did slide against sterling a little, but its performance in 2017 has been so consistent that it’s fair to say the single currency is enjoying something of a renaissance.
Positive eurozone economic data and euro strength will surely soon begin to pressure European Central Bank President, Mario Draghi, into adopting a more aggressive monetary policy? He is famed for talking the euro down, but this will only wash for so long. It will be interesting to see whether a more definitive announcement will be made on the eurozone’s quantitative easing programme at the ECB’s meeting next week.
On Tuesday we will see the inflation rate as well as the German ZEW economic sentiment index. This is a survey of up to 300 experts from banks, insurance companies and financial companies. It is seen as a leading indicator for the German economy and, if the results are positive, we could see euro gains across the board.
