The euro begins this week marginally up on where it was against the dollar this time last Monday despite yesterday’s choppiness. Against the pound it is also stronger than it was 7 days ago.
Markets can expect lots of interesting data from the eurozone this week, such as the Ifo business climate tomorrow and Gfk consumer confidence on Thursday.
The European central bank (ECB) will also make its interest rate decision on Thursday at 1:15pm UK time. The ECB raised rates higher than expected in September, by 75 basis points and suggested that further hikes will be delivered over the coming weeks and months. Markets are pricing in a further 75 basis point increase to 2% in this week’s October meeting.
