The euro strengthened yesterday following confirmation from European Central Bank President, Christine Lagarde, that interest rates will be hiked in July.
This morning, economic data for Germany was released, showing that consumer confidence improved slightly this month and matched market forecasts. Despite this, it is still around an all-time low due to the Ukraine war and high inflation.
GDP figures for Germany were also released, showing that Germany’s gross domestic product expanded 0.2% on quarter in the first three months of 2022, recovering from a 0.3% contraction in the previous period.
