Euro ended last week down against the pound, but was given a slight boost this morning by slight better-than-expected manufacturing figures from Germany, France and Italy. As this sector is one of the ones whose sluggish performance has been cited as a riskier factor in the eurozone’s economy, any upswing will be taken as a positive by the markets.
Friday ended what was otherwise a quiet week for data releases with a number of figures. Inflation recovered better than expected for the eurozone, reaching 1% and 1.3% for core inflation. However, with some poor figures for service and industry, expectations are still muted over whether this will be sustained long-term.
