The single currency weakened against sterling yesterday while remaining essentially unchanged against the US dollar.
This morning has seen it strengthen against both currencies – despite the absence of any data – possibly on renewed hopes for an end to the worst of the pandemic by summer as Europe’s vaccine programme gathers pace, with 31% now at least partially vaccinated.
Today we’re going to see employment data and GDP and tomorrow inflation for the eurozone.
Tomorrow morning we will hear the results if the ECB’s Financial Stability Review, an investigation into the effect of the pandemic – and the various mitigation measures put in place. Of interest will be the ECB’s worries at the strength of the euro against the US dollar.
