The euro has weakened across the board at the start of the week, by between 0.1 and 0.5%, as the excitement of last week’s comments by ECB President Christine Lagarde fades. It remains however, well above where it was last week, at around 1 to 2% up on most of its closest nine rivals.
There are some lower level data releases today, but tomorrow there is German balance of trade. The currency markets will also be keeping an ear out for various speeches by members of the European Central Bank’s interest rate setting committee, which began with ECB president Christine Lagarde yesterday afternoon.
On Friday there will be a final reading for German inflation, where the initial reading had been a wholesale price rise in excess of 16% in the year to January, feeding into general inflation of 5.3%.
