The single currency remained stable against the US dollar yesterday while strengthening very slightly against GBP. On the week, EUR is around 0.5% stronger against both.
Yesterday’s manufacturing PMI data showed a strong recovery across the Eurozone and in Germany in particular, with a reading of 65.9 beating expectations. Elsewhere the PMI reading was less stellar, with France and Spain slightly below 60.
This morning we’ve heard that tourist arrivals in Spain have picked up sharply in June – as you would expect – but again, slightly below expectations. Tomorrow we’ll get a better reading, with services PMI across the eurozone and in each country.
