The single currency strengthened marginally against the US and Canadian dollars while dropping a little against sterling.
Germany’s year-on-year wholesale prices were released this morning. Wholesale prices for August rose by 18.9%, higher than market expectations of 18%. This follows two consecutive increases in previous data (19.5% increase in July, following a 21.2% gain the month before).
We have just heard that French inflation is at 5.9%, a little higher than the 5.8% markets expected.
Euro area balance of trade for July will be released this morning. Markets are expecting a €26.2bn deficit.
