A torrid few days for the single currency has been followed by a brief recovery against the pound and – at least – no further losses against USD, possibly due to belief that a cease-fire could succeed in Ukraine.
On the data front, yesterday there was a broadly positive set of data yesterday, including retail sales and factory orders in Germany that exceeded expectations. Industrial production for Germany this morning was a 2.7% rise in January – against an expected 0.9%.
There isn’t a great deal happening for data now until Thursday, when the interest rate decision will come down from the European Central Bank.
