A positive week for the single currency ends, barring mishap today, with a roughly 1-2% rise against major rivals.
Hawkish comments from the chief of Finland’s central bank on the need for the ECB to continue raising rates “significantly” have helped the euro. This is in contrast to a softening attitude to inflation in the US and a more risk-on view of investments from the markets.
German GDP has been announced at 1.9% for the year. That’s down on the previous month’s reading but ahead of expectations. And that brings the week of major data releases to a close. Next week we have inflation and the ZEW Economic Sentiment Index from Germany on Tuesday, followed by eurozone inflation on Wednesday – all potential market movers.
EUR/USD past year
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