The euro reaches the end of the start of the week down against sterling and the US dollar, but this appears to be a correction and is against the general run of EUR/USD which has been positive for weeks.
Yesterday we saw manufacturing PMI data from across the eurozone, and all of it was a little under market expectations. On Wednesday morning we’ll have services PMI from the same countries, so it will be interesting to see how that fares.
Despite news last week that Europe is suffering a double-dip recession, there were interesting reports over the weekend that the euro is set for a resurgence on the back of an accelerating vaccine programme and a dovish attitude from the US Federal Reserve (Fed).
With 25% at least partially vaccinated in Europe, we could see as rapid a decline in the most serious cases as we’ve seen in the UK.
