A positive day overall for the single currency, ending the day slightly up on the US dollar but more significantly stronger against the Australian and Canadian dollars.
This was despite construction PMI continuing to disappoint across the eurozone, while retail sales have fallen by 2.9% in the last year.
Next week there will be a final reading for German inflation. At 6.4% this has been one of the highest in Europe, despite Germany being in recession. Although final readings tend to be less influential than the preliminary reading, the markets are nevertheless likely to take a close interest for any surprises. Other countries’ inflation data follows throughout the week.
Possibly even more influential will be the ZEW Economic Sentiment Index for Germany on Tuesday. This has been firmly negative in recent months and is expected to remain so.
EUR/USD past year
