020 7898 0500The euro performed relatively well on Friday, making gains against both sterling and the US dollar. Data released showed Consumer Price Inflation (CPI) came out as expected showing 2.1% growth year on year, but it was the weakness of the US dollar that was driving the market.
Today, the main event will be a speech on from the Deutsche Bundesbank President on the “relationship between monetary and macroprudential policies” in Frankfurt, but is not expected to have a significant impact on the euro’s performance.
The main data released from Eurozone this week will come on Thursday, when we see Services and Manufacturing Purchasing Managers’ Index (PMI) announced. These figures should provide a good indication of the economic activity in the Eurozone and are expected to show a slight improvement relative to July’s release and firmly in expansion territory.
The European Central Bank Monetary Policy Meeting minutes will be released on Thursday and analysts will hope that we might get some clarity following recent comments from the central bank where they said they will keep interest rates on hold till “at least through the summer of 2019.”
