The euro is stronger against the dollar this morning due to positive economic data from the Eurozone and dollar weakness.
Data on Friday showed second-quarter Eurozone GDP growth rate of 13.7% and a July inflation rate of 2.2%. It’s thought that these figures could prompt the European Central Bank to take a more hawkish stance on monetary policy.
There were also some positive data releases this morning, with retail sales in Germany jumping to 4.2% in June, much better than market forecasts of 2%. Year on year, they increased 6.2%, an improvement on the previous reading of -1.8%.
This week, there will be a series of PMI data, retail sales figures and more.
