The euro strengthened against its major peers yesterday, by nearly 0.5% against USD and GBP and by over 1% against the Australian dollar.
There was little fresh data yesterday, but retail sales in Germany fell markedly in September, by 2.5% against an expectation of 0.5% rise. Non-foods were the main issue, falling by 5%.
There are final readings for September’s PMI today across the eurozone and tomorrow we will see unemployment in the eurozone too, amid a flurry of speeches by ECB interest rate setters including Christine Lagarde.
