Euro has started the day up against the pound, despite manufacturing PMI coming in lower than expected for the eurozone yesterday morning. Poor PMI data in the UK has helped the euro, as have individually stronger performances in some eurozone countries, like Germany.
This morning, German unemployment figures have held steady, as has European loan growth. Later today, we will see further important releases for Germany, including preliminary inflation rate figures. Next week will begin with a raft of PMI data, expected to remain the same or show a slight improvement.
