The euro has dipped slightly against the dollar this morning but is still stronger than this time last week.
An account revealed yesterday that during its Financial Stability Review, the European Central Bank said that Euro Area financing conditions had remained broadly stable since the last monetary policy meeting. Officials also expressed concern about the strengthening of the euro against the dollar.
April’s Inflation rate data was released for the Eurozone yesterday, beating expectations at 1.6% year-on-year. This was mainly driven by the high cost of energy, however, prices for food, alcohol and tobacco rose at a softer pace.
Today is a light day for data in Europe, but tomorrow, PMI figures will be released and President of the ECB, Christine Lagarde, will speak.
