It was a mixed end to the week on Friday, with construction figures better than last year, but not as improved as expected, and inflation largely holding steady. The main story was the ECB’s meeting mid-week, where the Governing Council warned that risks and uncertainty were not going away any time soon, despite some very early signs of a potential bottoming-out of the economic slowdown.
Today is quiet for economic data, as is much of this week. Eurozone and German economic sentiment figures will be released tomorrow. German figures are forecast to drop by about five points, in a less-than-positive sign. Later this week, we have the ECB’s interest rate decision, expected to hold steady. Christine Lagarde will speak on Friday, after a busier morning of services, composite and manufacturing PMI.
