020 7898 0500Two key economic indicators were released in the Eurozone yesterday. Consumer Price Index (CPI) data – measuring inflation – for the bloc and Germany came in as forecast at 1.1% (year-on-year) and 0.7% (month-on-month) respectively. The lack of surprises within the data was reflected in euro (EUR) markets, which held steady against the dollar (USD) and gained – ever-so-slightly – against the pound (GBP).
Today sees a much busier day in the single currency bloc. Data is released in France, Spain, Ireland and Portugal. However, these will be eclipsed by the European Central Bank (ECB), which releases its interest rate and deposit facility rate, as well as hosting a press conference to discuss the European Union (EU) economy. Any hints from the press conference concerning monetary policy, particularly interest rates and asset purchases– which are both expected to remain unchanged – could cause significant movement in euro markets.
