The euro weakened against the pound and the dollar at the end of last week.
Inflation data for the Eurozone, released on Friday afternoon, showed that inflation has reached a 13-year high. It could be said that this puts extra pressure on the European Central Bank to taper monetary policy, despite its view that higher inflation is ‘transitory’.
PMI data released at the end of this week revealed that manufacturing activity in the euro area slowed by the most since April 2020 during September, as supply issues continue.
This week, services PMI data for the Eurozone will be released, as well as retail sales figures.
