The single currency weakened by around 0.5% against USD yesterday amid the frustratingly slow vaccine rollout and rising Covid cases in several of the EU’s major economies, including Germany.
Other than that the data from within the EU was broadly positive, including fractionally better than expected PMI across the board.
This morning we have already seen retail sales shrinking by 8.7% in Germany year-on-year – far worse than forecasts of a small rise – and we have plenty more high level data to go as the day progresses, including unemployment and inflation in Germany and the eurozone respectively.
