The euro weakened at the end of last week after Russia announced it was sanctioning several European energy companies. It is still weaker against the dollar and the pound this morning.
It’s also a busy week ahead for European data releases. GDP figures will be released tomorrow for the first quarter of this year, expected to come in at 5% year-on-year, which is a slight improvement on 4.7% seen in the last quarter of 2021.
Final inflation figures for April will be released on Wednesday, expected to come in at 7.5%, a small uplift from March’s reading of 7.4%. President of the European Central Bank, Christine Lagarde, is due to speak ahead of this on Tuesday.
Later today, the European Commission will publish its spring forecasts for economic growth.
