020 7898 0500Yesterday morning saw German ZEW economic sentiment data being released, with figures far poorer than expected, at 0.5%. German businesses are taking a rather pessimistic outlook on economic health despite steadily growing employment rates. Despite this negative data, the euro strengthened continually against sterling throughout the day, primarily due to faltering inflation figures from the UK, which drove sterling weakness. This boosted the euro against the sterling, to the pair’s strongest rate this month.
In recent days the euro has remained mostly unmoved against the dollar. Tuesday continued this trend as the pair’s only movement came from sentiment surround a delayed US interest rate hike.
There is a lack of economic data from the Eurozone today, but volatility may be felt from the number of other countries with data releases expected including the UK, Australia, America and New Zealand.
