The euro has had a torrid week, weakening across the board including over 3.5% against USD and almost 2% against sterling. It has now virtually reached parity against the US dollar for the first time in 20 years.
Although there was a dearth of data yesterday, fears over the Russians cutting off gas supplies to Europe over the winter are rising, with a current 10-day blockage in supplies due to, the Russians say, maintenance.
Today we’ll hear the ZEW Economic Sentiment Index for Germany and the eurozone in July and tomorrow there will be a final reading for inflation across the main economies of Europe.
