The single currency weakened marginally across the board yesterday, by up to 0.5%.
A mixed pattern is emerging for the eurozone economy, with inflation continuing to fall (even below the ECB’s 2% target in Spain). We will very shortly hear both the unemployment rates and inflation rates across Europe, which are expected to be around 6.5% and 6.1% respectively. This would give a so-called ‘misery index’ (unemployment + inflation) of 12.6%, compared to the UK’s 12.2% and the US’s 7.7%.
Next week’s data includes final PMI results on Monday to Wednesday, but overall it’s a quiet week.
EUR/USD past year
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