It has been a choppy week for EUR/GBP so far. This morning the euro is slightly weaker than the pound overall, but like sterling it has maintained most of its gains made against the dollar from yesterday.
Following good consumer confidence data from France this morning, tomorrow markets will see the reading for Europe’s largest economy, Germany, at 7am. The picture is less optimistic as low consumer confidence is expected again. Markets are predicting a reading of -40, reflecting concerns over surging inflation, high energy prices and continuing recession fears.
