German inflation was confirmed at 1.6% year-on-year, as the markets had expected. Nonetheless, positive British GDP data has helped to slightly push the euro down against sterling. Later today, we will see the results of the ECB’s non-monetary policy meeting, with many commentators expecting there to be hints of rates either remaining at their current levels or lower.
The date for the final decision on the new ECB President has been set in October, with Christine Lagarde widely expected to be confirmed. Her nomination is currently sitting with the ECB’s Governing Council and the European Parliament.
Tomorrow, we will see Eurozone industrial production, which could have an important impact on the single currency, as a sign of how the economy is performing.
