020 7898 0500Yesterday saw a multitude of releases from the Eurozone, with little data of any significance exceeding expectations. French Gross Domestic Product (GDP) came out as expected, while economic sentiment from the bloc was mixed, as was German price data. However, the headline Consumer Price Index (CPI) number was as expected. The mixed – but low-impact – data of the day was overshadowed by a sharp fall in the US dollar (USD) against the euro (EUR) – amongst other currencies – but the euro weakened against the pound (GBP).
Today sees a raft of price data – with Italy and Spain releasing their figures – and the key bloc-wide CPI figures also coming out. German unemployment data – the rate and change in unemployment – will be released, and the president of the European Central Bank (ECB) Mario Draghi will also speak – any hints on a tightening of monetary policy could provide a respite to the embattled single currency.
