The euro is softer against the pound and flat against the dollar this week as it awaits a series of economic data this week.
This morning German retail sales sank 9.6% month-over-month in December, much worse than market forecasts of a 2.6% drop due to the second COVID-19 lockdown. However, year-on-year, retail sales increased 1.5%.
Manufacturing PMI for Germany was also released this morning, which came in at 57 for January 2021, showing that the sector is still experiencing robust growth.
Unemployment, GDP and inflation rate figures will also be released for the Eurozone this week. The European Central Bank will also hold their non-monetary policy meeting.
