The euro made some slight gains against the pound yesterday, which had another bad day against the dollar. The single currency didn’t fare too well against the greenback either and fell back below the $1.13 mark for the first time since 15 November 2018. There were no major economic data releases from the eurozone and today is not that much busier in truth.
However, things pick up on Thursday, when we will see Germany’s unemployment rate in November. It is expected to hold steady at 5.1% this time around which is a touch high. We will also see business confidence in the eurozone, as well as industrial, services and economic sentiment. The German inflation figures will also be released, as will consumer inflation expectations from the eurozone.
So, today could well be the calm before the storm. European Central Bank President Mario Draghi will deliver his second speech of the week tomorrow and it will be interesting to see what the notoriously dovish president has to say about the current state of the eurozone’s economy, as well as his opinion on Trump’s trade wars.
