The single currency weakened by around 0.5% yesterday against both GBP and EUR, this despite Eurozone ZEW Economic Sentiment hitting its highest reading since February 2004.
French and Italian inflation data was as expected at 0.2% in France (same as the UK) and -0.5% in Italy.
It’s a quiet day for EU data today, but the big news will be the speech by EU Commission president Ursula Von der Leyen, outlining the EU’s green deal to cut emissions while also powering the eurozone’s recovery.
She is expected to announce ambitious targets for CO2 emissions cuts that will involve ‘wholesale lifestyle changes’ and heavy infrastructure spending to boost local economies.
Tomorrow we have a wide range of eurozone industrial data to look forward to.
