Euro hit a 2.5-year low against the pound yesterday, put under pressure by positivity in the UK over the upcoming election. There was a mixed bag of releases yesterday morning, with Italian services showing a larger-than-expected drop, although German figures did edge up somewhat.
For the eurozone as a whole, both services and composite PMI came in just above expectations, but still with only a small increase.
European GDP growth is expected to hold steady at 0.2% quarter-on-quarter, just avoiding hitting zero. Monthly retail sales are forecast to enter negative figures, in a sign of potential falling confidence among consumers.
