A mixed day for the euro yesterday reaches the end of a mixed week but generally negative month.
The single currency lost out to the Scandinavian and Antipodean currencies while gaining on the pound and USD yesterday, but it was all quite marginal, as the markets received a welter of data while awaiting the interest rate decision next week.
That data included the eurozone economy growing less than expectations in the third quarter, by just 0.1%, when 0.3% had been expected.
So far this morning Germany’s inflation rate has been confirmed at 6.1%. However, with such a small drop from last month’s 6.2% and with core inflation unchanged at 5.5%, there is little reason for cheer.
Next week, Monday starts extremely quietly for data, but on Tuesday we have the ZEW Economic Sentiment index for Germany, plus Spanish inflation, all leading to the big event of the week which is the European Central Bank’s interest rate decision on Thursday.
EUR/USD past year
