EUR: Poor growth and upcoming rate decision put on pressure

The Euro is under pressure this morning as it awaits the outcome of the ECB’s rate decision on Thursday, expected to be held in negative territory amid poor growth outlooks.

German manufacturing PMI has just been released, holding relatively steady, down 0.1% month on month. Eurozone manufacturing PMI showed the same tend, with a small decrease to 47.7 from 47.9.

Tomorrow we will see the French budget balance, expected to drop from €-40.7 billion to €-62.2 billion. On Wednesday, the main economic news will be eurozone-wide retail sales and services PMIs.

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