Euro – any light at the end of any tunnel?

Still under pressure , the euro did manage to gain ground against sterling on Friday but against the US dollar it lost a further 1% – ending the day close to 12-year lows as the release of a downbeat US economic report did not affect the dollar and as concerns over the outcome of Greece’s bailout talks persisted.

Looking to the week ahead, Tuesday is the key day for Eurozone data with the release of ZEW German business confidence data – set to improve from 53 up to 59 – and inflation figures in the form of the Consumer Price Index data, which is forecast to improve slightly from -0.6% up to -0.3%.