The single currency had a positive day against sterling while slipping slightly against USD, in a decidedly mixed day for data and ahead of an interest rate decision in two days time.
In Europe’s largest economy, construction PMI slipped badly in Germany, to 44.6, showing a serious contraction in building. On the other hand, factory orders in Germany rose in July by 3.4% against an expected fall of 1.2%.
At 10am today a mass of data will need untangling ahead of the European Central Bank’s interest rate decision, including the ZEW Economic Sentiment Index for Germany and the Eurozone as a whole.
