020 7898 0500It was a quiet day on the data front for the euro on Friday, but the single currency enjoyed mixed fortunes throughout the day. It began by strengthening against a weak sterling, but lost ground from its multi-month highs against a strong dollar.
While we enjoyed a bank holiday in the UK yesterday, most European markets were open and we saw some money supply data released, as well as European Central Bank President Mario Draghi speaking in front of the Economic and Monetary Affairs Committee in Brussels. The euro gave back a proportion of the gains it made against sterling during the day.
Today is fairly quiet on the data front in Europe, with German and Spanish inflation data the main releases to keep an eye on. Later this week we have German retail sales, Europe-wide inflation data and Europe-wide purchasing managers’ index as the key announcements.
