The euro is strong against the dollar this morning and staying within familiar ranges against the pound. The single currency is still strong after the Federal Reserve’s announcement last week, when they said that they would continue to support the economy and allow for higher inflation. This has helped overall sentiment and has weighed on the dollar.
Markit Manufacturing figures were released for the EU and Germany this morning. The figure for Germany came in at 52.2 for August, slightly below expectations but an improvement on July’s reading. For the EU as a whole, it came in as expected at 51.7. This is slightly less than the previous reading of 51.8, but still shows that the sector is growing.
The EU’s Chief Economist, Philip Lane, will make a speech later. Markets will be looking for comments on recent data releases and the EU economy as a whole.
