020 7898 0500The Eurozone had another quiet day in terms of data releases on Friday, with Producer Price Index (PPI) figures coming in as expected month-on-month, and better than expected year-on-year; however, the figures were still disappointing. Spanish Unemployment also came in slightly better than expected. This helped to push euro weakness against sterling and the US dollar.
This week is short of key significant data from the Eurozone, but there is still plenty to potentially move currency markets. This includes services Purchasing Managers’ Index (PMI) data from Spain, Italy, France, Germany and the Eurozone as a whole on Monday, as well a growth and factory orders data on Tuesday. Thursday and Friday see a pick-up in activity, with Thursday seeing the release of the Minimum Bid Rate (an interest rate on refinancing which provides liquidity to the banking system) as well as the European Central Bank (ECB)’s press conference. Any messages from the latter is likely to cause a reaction in euro markets, especially if there is any hint towards a change in the ECB’s key interest rate.
If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
