020 7898 0500Yesterday saw data releases in France, Italy, Ireland and the bloc as a whole. However, the markets’ – almost – sole focus was on ECB President Mario Draghi’s speech. He suggested that Brexit would hurt the UK more than the Eurozone, but reiterated that the bloc was still weak. Absent from his speech was any comment on the upcoming referendum in Italy. Despite mid-day rallies against both the pound and the dollar, the single currency needed up as it opened against both currencies.
Today sees a raft of data. However, it’s is likely to be quantity over quality, with no high-impact releases. Plenty of sentiment data from the bloc overall will be joined by price data from Spain and Germany, and GDP figures from France.
Italy, Portugal, Greece and Belgium also see lower-ticket releases. The lack of important data is likely to leave the euro to be moved by overhanging events such as Trump’s presidency and the looming Italian referendum.
