The euro is still under pressure against the dollar this morning, partly due to negative reports about Europe’s slow vaccine rollout.
European Central Bank official, Fabio Pancetta, said yesterday that the Bank should expand bond purchases or increase the quota earmarked for them to keep yields down. Yields have been rising since the start of the year.
Services and Composite PMI data has been released for Germany and the EU this morning. Both readings for Germany came in slightly below expectations, although composite PMI remained in growth territory, showing combined growth for the services and manufacturing sectors. For the Eurozone as a whole, both readings beat expectations, however, remained within contraction territory.
