A mixed day for the single currency saw it weakening sharply against USD, again, continuing to lose the strong gains of the past month. While the drop was less pronounced than the calamitous 2% drop of Monday, there is no sign of it recovering those losses just yet.
On the plus side for some, the euro gained against sterling.
Today we’ll see final readings for inflation in several European countries. The recent sharp falls in inflation in Spain and France appeared to have stopped in the flash reading, so it will be interesting to see the final result.
The first big event of next week for the euro should be the ZEW Economic Sentiment Index for Germany. The largest economy in Europe has been slower to recover than some others post-pandemic, and last month the index declined well below market expectations. Signs of a recovery could boost the euro, and vice versa.
There will also be final readings for inflation in some euro economies.
EUR/USD past year
