The euro is weaker against the dollar this morning, losing some of the gains it made yesterday. This is largely due to dollar strength resulting from a risk-averse mood from markets.
Markets will now be looking to consumer data for both the EU and the US for the next direction of the currency pair.
Inflation rate figures for the eurozone will be released later this morning. Month-on-month inflation is expected to remain unchanged but is predicted to decrease slightly from 2% to 1.9% year-on-year. In the US, retail sales and Michigan consumer sentiment will be watched closely.
