The euro ends the week almost 2% up on sterling and ending just a little ahead of the US dollar in a week where the ECB raised its headline interest rate to 3% and indicated that it would rise again to 3.5% next month.
Germany’s trade surplus was revealed to have risen to €9.7bn in December – ahead of expectations – but with trade with China down significantly.
There is positivity in Europe. In the Spanish economy both services and composite PMI were way ahead of expectations while French industrial production grew by 1.1% in December. More industrial data will be trickling through this morning and into early next week, but overall next week is quiet.
EUR/USD past year
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