The improving situation in the Eurozone and positive economic data has kept the euro strong against the dollar.
Flash PMI data for May released on Friday shows that that the Eurozone services sector performed better than expected, rising to 55.1, more than the 52.6 forecast. France’s manufacturing PMI rose from 58.9 to 59.2 this month, which is a record high.
The vaccine programme has accelerated in Europe and restrictions are easing in a number of countries. European Commission President, Ursula Von Der Leyen, said that she is increasingly confident that the area is on target to vaccinate 70% of all adults by the end of July.
This week, GDP business figures for Germany will be released, as well as sentiment data for the Eurozone.
