Today the euro is weaker against both sterling and the dollar following the latest inflation data and eurozone gas supply restrictions.
Yesterday the eurozone inflation rate broke records soaring to a new high of 9.1%, fueling fears of a further rate hike by European Central Bank.
Unemployment is predicted to make a gentle rise. Markets are predicting euro area unemployment to increase to 6.7 today, after remaining at a low of 6.6 for 2 consecutive months. Data will be released later this morning.
Italy’s unemployment rate is also expected to increase from 8.1% to 8.2%.
