EUR: Euro finds strength despite poor data

Yesterday was a good day for the single currency, with gains of as much as 0.75% against the yuan and a bit less against the US and Canadian dollars.

This is despite the deluge of negativity from the data readings yesterday and this morning. So far today German retail sales have taken a dive, falling by 1.2% when a rise had been expected. We’ll hear German labour market news shortly.

We’ve also heard that French prices fell in September by 0.5%, taking annual inflation to 4.9%. The ‘flash’ reading for eurozone-wide inflation in September will be out at 10am UK time.

EUR/USD past year

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