Despite this week being heavy on economic data, yesterday was a quiet start to the week. German Purchasing Price Inflation beat expectations. Irish consumer price data and French bond sales saw a marginal increase in yield, while remaining in negative territory though.
We also saw continued political uncertainty in the three European economies that will have elections later in the year. The euro fell against the pound but remained steady against the US dollar.
Today is going to be a busy day, with the Eurozone as well as Germany releasing Purchasing Managing Index (PMI) figures for their manufacturing and service sectors as well as a composite figure. The PMI figures are high-impact data releases that could cause volatility in euro markets. We’ll also see French consumer price data.