The euro is stronger against the dollar this morning ahead of eurozone inflation data, which is due to be released later this morning.
The inflation rate for January is expected to ease slightly year-on-year, coming in at 4.4% compared to December’s figure of 5%. Core inflation is also expected to fall. If inflation comes in weaker than expected, the euro could suffer against the dollar.
Tomorrow, there will be a series of PMI data released for both Germany and the eurozone, followed by the European Central Bank’s monetary policy meeting. The press conference following this will take place around 2:30pm.
